Today the stock closed at close to the 52 week low. Suppliers have already been stopping shipments, trucks are getting smaller, shelves are getting more empty. Another board member quits-- four key people in less than two weeks. Canceled all new supplies for our store. Your prediction of when bankruptcy is filed.
Mine-- December 27-- this to prevent any returns.
I have noticed the same as far as inventory shipments. We get nothing for stock anymore. I think my store is effed. BK does not mean that you will lose your job immediately. I think that store closings are going to be the direction eddie goes via a plausible plan.( I would like to hear that plan) Fast eddie has to protect Seritage and it does appear that he might might have left his balls swinging in the breeze. Eddie is a stock trader and the only reason he was any good was because he worked for Goldman Sachs with inside trade info. Warren Buffet my arse.
Eddie has open liability to PBGC and they are first tranche with rights to REIT Seritage under the stature of limitations in most states.(two years) When do you cut your losses? Or CAN you cut your losses in this fiasco.
But when your GS/ SHLD buddy Mnuchin is going to be installed as Secretary of the Treasury who knows?
SHLD has enough operational cash and loan facility to get into January. The numbers though... The year end 10-K report should be a real peach.
December 26-29 seems right. Just like SHC to file bankruptcy to prevent any returns and not honor Christmas gift cards. Vendors are bailing fast, inventory is not as large as they claim, no merchadise being shipped for spring. No stock, no money, no customers = no business
Does it really matter when the bad news comes out? With Sears the news is bad all the time and does any one really care what happens or pays attention to this stock except for those who are just waiting to see it go under?
I predict that it will happen on a Friday before a major holiday (such as Christmas, New Years, Easter) since that is when bad news seems to come out so that most people are too distracted to really notice it (if you've been following the national news over the last year, you'll know what I'm referring to)!!
HIGH POINT, N.C. — Sears Holdings Corporation will close its call center in High Point, impacting hundreds of jobs.
Jo Anne Mullis, Sears call center human resources manager, said about 100 people were laid off in October when the company announced the center would be closing. Those people received 60 days pay.
About 200 people still work at the center, located at 921 Eastchester Drive, and they will be laid off on Feb. 24, 2017, the same day the facility will permanently close.