Those who believe retail is recovering are living in denial. The number of retailers expected to announce bankruptcy is rising, and Sears is among them. No surprise there, I recon.
https://americaclosed.com/retail-bankruptcies-expected-2018-sears-bon-ton-24-retailers-poorest-credit-ratings/
@1ocfz- Yep, just like Montgomery Ward, one of the biggest and hottest retailers online. LOL
www.wards.com
Sears isn't going away it will be smaller and different... you really think eddie wants his name is mudd forever.
All of Eddies "loans" have been secured by inventory or property, he is at no risk whatsoever of losing any money on these loans. There is basically nothing left to secure, so doubtful Eddie will fund this thing much longer and just let it die. He's Kylo Ren; Just let it die"
@QWhJlh1-1rgv I think Eddie's piggy bank is rapidly emptying to the point that he might not be a billionaire anymore (at one point, he was worth nearly $4 billion before he started donating his personal wealth to help prolong Sears' existence). Also, I think several big loans mature in 2018 and 2019.
Expect to see more store closing announcements in the next few weeks, with SHLD starting to pull out of some metro areas.
Or Bergners, Yonkers, Boston Store, etc. in certain regions
Bon Ton is also known as Carson's in some areas of the country.
As long as Eddie keeps pumping money in, he will stave off bankruptcy. But that well has to run dry eventually, as his funds and that of his hedge fund aren't unlimited. I am frankly amazed the company made it this far. And it would not have, if it weren't for capital injections during 2017. Those will probably end very soon.
Change the year to 2017, 2016, 2015 and this is the same post for the last four years.
These aren’t the droids you’re looking for ... move along.
I hadn't even heard of Bon-Ton in forever, despite there apparently being one in the area... I assume that, like Sears, they opted to ditch advertising, and gee... I forgot they exist. Sear's, maybe if you'd gone back to reminding people you exist, esp before the holidays...
There is no reason for Bon Ton to exist. It is among the few regional mall chains left. The rest have been sold off to Macy's and other chains back in the 1990s. Now Macy's is in trouble.
Sears is unique because it sells appliances and tools, which few other mall chains do. Apparel is a dead end unless you are TJMaxx/Marshalls, but Sears could be a force if it chose to. A lot of women prefer finished showrooms over the warehouse look of Home Depot and Lowe's. There is an obvious niche here, but Sears has to get back in the game.
some retailers are dying, others growing; do you understand the difference?
@hhh Spot on analysis!
This line in the article made me laugh; "It [Bon-Ton] blamed the poor results on unseasonably warm weather and a drop in mall traffic." Every time a retail company underperforms it's because of the "weather." It was too hot, it was too cold, it was too wet, it was too dry, ad nauseam. However, if a retail company outperforms, it's always a result of the genius and dedication of the senior management team. Retail companies never issue the statement, "We attribute our outstanding results to the pleasant weather this season."