Thread regarding Sears layoffs

Just a talking point:

I spent my first few years at a Kmart store whose lease was "re-negotiated" down to now end in 2019. I have since transferred to another Kmart store whose lease also expires in 2019. One location was a profit center while the other may end in the black during FY16.

While it is clear this is the final Christmas for Sears and Kmart retail operations, I am left to wonder if certain locations will remain in use in some fashion - storage lots possibly - through 2019? I just find it too coincidental that two relatively successful locations share the same lease end date.

Regarding inventory levels, I visited the Sears at Pearlridge Uptown Mall (HI) yesterday. The store is three levels. Touring the bottom two, the ground floor was well stocked with appliances and tools - very few empties - and the second floor was flooded with clothing. The one problem: few customers. I counted at least fifteen employees on the ground floor and two customers. Signs were posted at the entrance stating "We're hiring"...based on my visit, I'm not sure why.

Yeah, I read those folks over on Yahoo pretty much everyday. They look to us for indicators. One poster there had mentioned the low level of inventory that we had mentioned. I can confirm low levels of inventory to be true in my store. A lot of shelves are empty.

I guess I will start another thread regarding inventory levels just so we have a little data to compare.

ZHD

At this point, everyone needs to google their state laws for BK filings in relation to their wages. Same states have excellent protections for wages others do not. Find out what the rules are for wages both pre and post BK filing.

In reference to the previous reply: All the employees where I work have more than just a clue. In fact, it's all we talk about. Those that have been there in the 3-5 year segment have left or are making plans to leave. The long term people are staying mainly because they are much older and alternative employment opportunities just aren't there.

a pre-pack Ch 11 is most obvious choice

Its not a bad prediction, I have cash burnout between Jan 7-14 with a rate of 5.7 million a day. But they could file BK before that or sell something get another loan from ESL to hang on a bit longer. But with out coming up with more cash its all over. All the vendors and lenders are getting very nervous.

The interesting thing I find after talking to a few employees at a store they have no clue at all whats about to happen. But I guess Sears has been in such bad shape for so long they just shrug it off as more rumors.