Just wondering if anyone knows about any Sears that will be having massive layoffs or closing the stores? I know some of the REIT stores are down sizing big time that will result in massive lay offs... Does anyone have any info when this will happen or be announced? At least JC Penny and Macys have been transparent with their stores. I feel like wool is being pulled over our eyes! SO MESSED UP!!!
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This very messed up. I agree. I recently worked at Sears and found it a very depressing place to work. It is crazy that this is the only big retailer which chose to not come out and state their final list of closings and let employees plan. I have a friend who is working at one of the Macy's that is closing and they handled it very professionally. At Sears, you can see the life being sucked out of the store almost on a daily basis. And, with the lowest wages in retail and terrible morale there is no way you will WOW your customers even if they can Shop Their Way. What a joke! The lack of transparency and failure to even try to turn this business around should be criminal. At least Fast Eddie will come out of it golden with his REIT!
Eddie is nowhere to be found at the corporate headquarters, the ship is rudderless.
The loan payment is for the retirement fund which is a federal government requirement to make sure people who have invested their lives in a company do not get scr*wed by a company going bankrupt. This payment is in the BILLIONS. Just look at the financials and the SEC filings. This company is not going to last
Recently, SHC confirmed that about 10-15 stores will close in March or April. I can almost guarantee additional locations will increase that number. As far as the REIT stores, I'm not sure about those. I do remember reading something about a loan payment being due sometime in April. I think it's no coincedence that all of the stores recently announced will be finished liquidating by April. They will eventually get to those stores included in the REIT.
Eddie is not transparent. He doesn't want to admit that he has failed. He thought Shop your way program was going to save the company wrong. Harassing customers at checkout is bad for business.