Thread regarding Sears layoffs

The only question left will be whether SHC files for Chapter 11 or Chapter 7 (or a Chapter 11 that turns into a Chapter 7).

Also, a Sears bankruptcy would likely become the largest retail bankruptcy ever (larger than Circuit City)

"Some people have reported that before their store closed, they were seeing surveyors outside, and electricians/inspectors inside, planning how the property could be repurposed."

In hindsight, that was the only clue we observed that our store was about to be closed. About three months before the announcement, activity like this started taking place inside and outside the store. Spray painted markings and survey stakes began appearing on the sidewalk and parking lot around the store. About one month before the announcement we heard that a local utility company had received a work order to install a new utility line to our location. After our store closed it was completely gutted and converted into three new stores.

@1iyz there were surveyors and inspectors at my store recently. We were hoping it was for tax purposes but they have never did anything like that in 20 years I worked there...something is up and yes we are in the 140 club.

@1bny Some people have reported that before their store closed, they were seeing surveyors outside, and electricians/inspectors inside, planning how the property could be repurposed.

I was in a store that closed we had zero knowledge of the closure until that day, the liquidator showed up later that day. We started removing sale signs minutes later

That Valentine stuff was bought 6 months ago and can be sold in liquidation.

@1xye and @1vid So what exactly can be a sign that the store is closing? I am sure that even if you get normal inventory you can still close out of no where. Any signs (other than sales being down) that can tell if your store is closing?

@1xye - You are 100% correct. Freight was arriving as normal to our store right up until the announcement was made. There were no tangible signs that our store was on the chopping block. The store manager was informed the evening before the announcement.

I doubt you're "safe". Remember you can always sell whatever freight comes in in liquidation. Managers won't be told that the store is closing until close to the end.

But my manager said if we have Valentine's Day freight in receiving (which we do) that our Kmart is safe. Is this true?