Info from Popcorn

https://seekingalpha.com/article/4125032-tracking-bruce-berkowitzs-fairholme-portfolio-q3-2017-update

This is Pop. Eddie and his goones are getting everything in place to drain every last cent out of the company that they can. Does anyone else think its a little strange that the stock happens to go way up today on the day that Bruce just happens to want to unload a lot of stock and cash out? My contact close to corporate is telling me that Eddie and his top aides are really pushing to drag this out as absolute long as possible, continue to liquidate what merchandise left, sale every single store possible. There are zero plans to rebuild the company and transform it. For the holiday season they plan to mark down things very very low as much as 70-80% off most items, they do not care how much profit they lose, its all about making what ever sales they can before time runs out. My contact still says Jan is probable for bankruptcy filing but there is a slight chance Eddie can push it till second quarter 2018. Also a lot of people post about if Popcorn is right or wrong. Its not about me being right or wrong its about me providing you guys with the info that I have, thats all I can do is provide you the information that I have been given. My contact has been pretty solid up until now so i am doing all I can to keep you guys up to date in crooked Eddie.

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12 replies (most recent on top)

@phk, the January 22, is when the orginal kmart went bankrupt in 2002.

This isn’t from Popcorn. That’s all I can say right now but I’ll tell u more after I get my nails done.

@wwe Why say that? No one is a moron for having their own thoughts. No need to be nasty in these posts.

Ryn, only a moron would believe that.

The idea behind 300 stores is to use them as warehouses for shipping Kmart.com to customers and to have at least a minimal physical presence. Some states/ regions will not have a kmart

Wow 22 Jan, 2018 ppl have started predicting dates.

The Reason for keeping stores open would be to continue paying rent to Seritage. It doesn't matter how much debt Sears accumulates as long as REIT doesn't get stressed. Seritage Growth Properties has aquire some Prime real estate from Sears and right now it is happy to collect rent from Sears. The longer Sears stays open the more in debt Sears becomes.

Moodys just issued a downgrade. That's sure to affect vendor relationships.

@QirFJnU-yzo What is the point in keeping 250-300 stores open?

Any info, analysis and common sense insights are appreciated. The transformation is nearing the end game. There will still be some asset sales. I am curious as to what the next significant headline will be. I think there will be a splash before January.

Kmart will not go away completely. They will close stores until the chain reaches 250-300 physical stores that's always been the ultimate goal.

Well like the OP said, he/she gave us the info. Let’s see how things play out.

Like if Kmart fully shuts completely down in 2018 after 66 years in business as Kmart Corp/Kmart Holdings/Sears Holdings.

2017 has been a very interesting year both economically and politically.

Let’s see if all of the rumors of the bankruptcy in January 2018 is true?

I am predicting January 22,2018.

16 years after the original Kmart filed for bankruptcy

Thread regarding Sears layoffs

Info from Popcorn

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