So according to this, tomorrow is the day....I don't believe it to be honest.
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I was an employee with nearly 30 years full and part time when I quit years ago.
Luckily, someone from headquarters gave me the real picture of what direction the company was heading, and gave me a heads up. There is life after Sears.
I guess we will find out tomorrow. They had mentioned selling off assets to help cover expenses,anybody read anymore on a potential sale?
They have no cash left from the REIT. They burned through over 625 million this past quarter. They still have to pay off other debt, rent on the REIT stores, fund the pension to government mandated levels, pay for Christmas inventory etc. Tomorrow we will see how much cash they have. My bet, no much to none, even after Christmas sales (which were dismal)
he is correct, tomorrow will be additional layoffs and 550 stores is true....Eddie is hiding all of this. I am glad i got out.
Although they are gushing red ink. They still have quite a bit of cash on hand from the REIT. I think they will go BK eventually. However, I think the March 16th date, is probably 18-24 months early.
Carl Icahn? Right.
I haven't seen anything about 550 stores closing anywhere.
550 stores closing and only 29 autocenters left? Hmm
Exactly, I outbid Bridgestone. They were unit for the repair centers and I wanted the retail side of Pep boys. Bridgestone is still looking for the growth opportunity in the states and what better deal can they get then sears auto centers. It's exactly what they been looking for! I did my buddy Eddie a favor! Now he has a buyer!
Bridgestone got outbid on the sale. I'm wondering if they already have a potential buyer and are just finalizing it now. It makes it interesting to see how many of the apparent 550 stores closing have auto centers and how it will play into a possible purchase.
Bridgestone... Research what happened when Pep boys was recently acquired. It makes the most sense...
Where did you read/hear that March 16th is the date? Does anyone have any idea who may buy the auto centers(if they do actually get sold)?
Is this true? I could see this but I have also seen some of the REIT stores being converted to a more lean approach. Why would they keep those stores open if they plan on going out of business... Anyone else hear anything?
So glad I found another job.
This is true.SHC to announce the closing of 550 sites to include Sears autocenters.
How do you know this? Is it really true? Because it needs to, Eddie Lampert is a Douch and has ruined this company with his ego and greed, he has done the employees very very wrong.