Thread regarding Sears layoffs

Got some new, no name grills on the truck last week. No more kenmore, no more charbroil.

Propane vendor wont give us propane. Either the canisters for customers, Blue Rhino I think. Came in and took out their display. And the propane for the fork lift, some other vendor. They wont pick up our pallets and the candy people and some pop vendors have pulled their product as well as a few chip vendors. Any other questions?

@ozm - Believe what you want to believe. The facts are that Sears wanted to renegotiate on the pricing of Whirlpool and their brands. Whirlpool insisted on their offer, and Sears declined it. Marc Bitzer, the CEO of Whirlpool, said so himself. Likewise, it was discussed extensively on Pebble. NOTHING had been brought up about the lack of quality control at Whirlpool. It was all talk about how "unfair" Whirlpool was being to Sears (Eddie wrote a blog post on that one).

Besides, Whirlpool still manufactures for Kenmore many fridges, most dishwashers and almost all of the top-load washers. Wouldn't you think that Sears would have cancelled the Kenmore manufacturing contract as well if there really were QC issues? FYI, most of the parts are the exact same in a Whirlpool and a Kenmore made by Whirlpool.

LOL “whirlpool wasn’t dumped for QC issues...” that might be true but everything they’d been giving us was junk!!! If they weren’t dropped for QC they should have been!

Whirlpool wasn't dumped for QC issues. Sears did not want to pay the prices they were asking.

QC obviously isn't a huge priority. Go to your PMT area and see how many third-rate Craftsman power tools are lined up in there, all defective returns, all made by third rate suppliers. You might also see a couple of those little chest freezers by Kenmore too, where the compressor has burned out. When grill season picks up steam, a ton of those will get returned like clockwork, due to defective ignitors/burners, flimsy construction and even rust (within the return policy period!).

All of those items are still shipped to the stores even though those suppliers are severely lacking QC. The better suppliers either cost more, have tighter terms or don't want to take a risk with Sears to begin with.

@fnc you are as full of sh-- as the OP.

Name one vendor that hasnt gotten paid?

Not one who we sued for trying to screw us or dumped because of QC problems (looking at you Whirlpool) or demanded more money than agreed too (all who were straightened out and all who got paid per the terms they signed up for)

And name one vendor who came in and pulled their merchandise for non payment. Now I’ve thrown some out for not living up to THEIR end. Why don’t you talk about that? Oh right, cause that would f@ck up your little “the sky is falling” narrative!

Ah, this must be the seeking Alpha post for today on sears thelayoff.

Why don’t you trolls go MAGA somewhere else?

@zwn-- tell that to the vendors that email our store everyday demanding payment or coming in to take their product out of the store.

There is no more debt possible since this company is already leveraged to the hilt. So private equity would have zero interest in doing this.

And apparently SHLD doesn't pay their bills on time, or simply vendors are too nervous about BK but whatever the reason, dozens/hundreds of vendors are no longer shipping to SHLD.

Sorry, but this only has one ending and it's not a good one.

Private equity firms buy companies they can make a fast buck and load with debt. The investment would never pay off since such a massive investment would need to be made.

We actually DO pay our bills.

Profitability is impossible. Because they have such poor relations with vendors since they don't pay bills, for every dollar of revenue, SHLD product cost is $0.80. SHLD overhead (people, HQ, stuff not directly related to product) is about $0.32. so for every buck they take in, they spend $1.12. But wait, there's more. Interest costs. Pension costs. There are a whole variety of things below the line that cost more money. And despite all the firings, SHLD overhead goes up every single quarter, and has done that for about 3 years. You can't out run a shrinking business.

Bob's problem is, that unlike SHLD, he doesn't use the EBITDA accounting method. Just because EBITDA (and its variations) are not measures generally accepted under U.S. GAAP and the U.S. Securities and Exchange Commission requires that companies registering securities with it (and when filing its periodic reports) reconcile EBITDA to net income in order to avoid misleading investors, doesn't mean Bob shouldn't reap its benefits. Just ask Eddie, the maestro of financial transparency!

I'm pretty sure it's just one HE troll posting over and over.

"Theres every chance of Sears and Kmart making a comeback if they are stabilized and begin showing profits. What if Kmart became profitable and was sold off to private equity willing to invest in the brand and invest in the stores."

You either:

A) Bought SHLD stock and are banking on a comeback to fund your retirement.

B)Work for Sears and have more debt than Bob, thus need Sears to survive.

or

C)Are simply delusional and care nothing for facts or understanding a problem before assuming to know the solution.

But in any case, one thing I know is you haven't spent 1 minute of your time getting an understanding of Sears' situation.

Theres every chance of Sears and Kmart making a comeback if they are stabilized and begin showing profits. What if Kmart became profitable and was sold off to private equity willing to invest in the brand and invest in the stores.