Thread regarding Sears layoffs

There are not many options left for Sears Holdings. The Store Closings and layoffs will continue until or if

they make a profit. If only 200 total Stores are Profitable then the remaining 1200 will be closing over the next few years. I can see another 300 or more going this year. Just prepare yourself with a emergency cash fund and don't over spend. You don't know if your store will be next. Good Luck to our Unemployed Friends.

My advice to everyone. Please read 10-K before commenting here, as some of you look as stupid as the media.

1veg- How much more official do you want than the report came from SHC themselves. This is not some blogger or reporter making a guess, this is the company saying they don't know if they can keep going as a business. No business would ever make a report like that unless it was the absolute end of the line and money. No need to wait for anymore information. It really doesn't take much to read into this -------that this is the end.

Kinda pointless to bring this up now, but USA Today posted a blurb about this on their website last night. It was only three or four paragraphs as their probably waiting for more info before posting anything else. However, I won't read much into this until something official is announced in the next several days or weeks.

Stock market was plunging already down 12% before opening, but somehow it's going back up now, what that tells us is Eddie and his goons are playing with the numbers and buying the stock up themselves, the filing yesterday shows us Eddie owns over half of all sears stock...

In Eddie we trust! He's been pulling tricks out the hat up until now and will keep on doing so!!!

Sure, it's a new accounting requirement that requires companies to disclose when the house is on fire. What's new? Public admission the house is on fire. This will cause vendors to tighten even more, and the vicious circling of the drain will acclerate. One more step on the inevitable death march. RIP Sears. Your incompetent greed ridden leaders hopefully will rot in he11.

THIS IS A NEW ACCOUNTING REQUIREMENT FOR THE 10K.

NOTHING NEW HERE.

YOU GUYS NEED A LIFE.

@Mpd46Fg-oqm You have to keep in mind that the latest quarterly filing was for the quarter that ended on January 29th. With SHLD being in such poor shape, a whole lot can change in the shape of a company in (almost) TWO MONTHS!!

How do they go from an earnings statement that say we are all great, we are returning to profitability, to this in a matter of days, fraud, fraud, fraud, and the highest level

The company now only owns 67 sears and 293 sears, all of which are tied to loans.....

The Company will continue to make required contributions to the Plans, the scheduled amounts of which are not affected by the arrangement. Under the agreement, the PBGC has agreed to forbear from initiating an involuntary termination of the Plans, except upon the occurrence of specified conditions, one of which is based on the aggregate market value of the Company’s issued and outstanding stock. As of the date of this report, the Company’s stock price is such that the PBGC would be permitted to cease forbearance. The PBGC has been given notice in accordance with the terms of the agreement and has not communicated any intention to cease its forbearance; however, if the PBGC were to initiate an involuntary termination of the Plans, our financial condition could be materially and adversely affected.

Our pension and postretirement benefit plan obligations are currently underfunded, and we may have to make significant cash payments to some or all of these plans, which would reduce the cash available for our businesses.

Affiliates of our Chairman and Chief Executive Officer, whose interests may be different than your interests, exert substantial influence over our Company.

Affiliates of Edward S. Lampert, our Chairman and Chief Executive Officer, collectively own approximately 48% of the outstanding shares of our common stock at January 28, 2017. These affiliates are controlled, directly or indirectly, by Mr. Lampert. Accordingly, these affiliates, and thus Mr. Lampert, have substantial influence over many, if not all, actions to be taken or approved by our stockholders, including the election of directors and any transactions involving a change of control.

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The interests of these affiliates, which have investments in other companies, including Seritage and our former subsidiaries, Sears Hometown and Outlet Stores, Inc., Lands' End, Inc. and Sears Canada, may from time to time diverge from the interests of our other stockholders, particularly with regard to new investment opportunities. This substantial influence may also have the effect of discouraging offers to acquire our Company because the consummation of any such acquisition would likely require the consent of these affiliates.

The Payment Card Industry (PCI) has established standards for securing payment card data through the PCI Data Security Standards (DSS). The Company is required to conduct an annual assessment with a PCI Qualified Security Assessor to assess compliance with the PCI DSS. Based on the 2016 assessment, the Company was determined to be non-compliant with PCI DSS. The Company presently expects to address areas of non-compliance

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prior to the deadline for the 2017 annual assessment in September 2017. A failure to achieve compliance with PCI DSS could result in the incurrence of fines, penalties or other liabilities by the Company.

Potential liabilities in connection with the separation of Lands' End or other asset transactions may arise under fraudulent conveyance and transfer laws and legal capital requirements.

As part of our overhead reduction, we have reduced our corporate and operations headcount, including management level, distribution and field employees. These reductions, as well as attrition could result in the potential loss of specific knowledge relating to our company, operations and industry that could be difficult to replace. Also, we now operate with fewer employees, who have assumed additional duties and responsibilities. The restructuring program and workforce changes may negatively impact communication, morale, management cohesiveness and effective decision-making, which could have an adverse impact on our business operations, customer experience, sales and results of operations.

The lack of willingness of our vendors to do business with us or to provide acceptable payment terms could negatively impact our liquidity and/or reduce the availability of products or services we seek to procure.

I skimmed through the 10K. The debt of 4.2 billion and problems with vendor financing makes lasting to July highly unlikely. I just don't see it Maybe if retail was going well but we know every major retailer is either going bankrupt or closing hundreds of stores.

July 8th is when Eddie officially owns the seritage properties. its in the home stretch now

the bottom is gonna fall out of the stock market tomorrow. sears will crash and burn tommorow