Is there anybody here who honestly doesn't believe we are headed straight for bankruptcy?
Just curious...
12 replies (most recent on top)
@1ofs- You do realize that if many Sears stores start to pay a lease then their (the stores) cost will increase dramatically. Many Sears stores have been paid for for many decades. IF now they have to start paying a lease that is more cost to the store and more money in Eddies pocket. Also, many Sears stores have decade long leases in some spots. IF they have a new lease they will start to pay today's market value instead of decades ago market value on the lease. This can and will be over three times what they pay for a lease today.
This has already happened in many stores. Profitable stores have been decreased to one floor or kept open until another leasee can be found to pay more than Sears pays per square foot. When that happens the store closes, profitable or not.
I think Sears is going to be transformed.
Did you see that ESL is making an offer for a master lease of all real estate ?
This means that the stores will continue to be opened and Sears debt will decrease or dissapear.
Maybe it will be smaller sores focused on best categories we don't know yet.
People think the leasing is so great, actually is s---s. We figured out that you end up paying a lot more for leasing then just about any other option. In fact, it’s actually cheaper to pay a year of interest on the sears card than it is to use leasing (except when the customer does the early buy out option)
Ugh, I hate WNLI. I dread it when the register spits out a pre-approval slip. More often than not the customer is oblivious to the fact that not only is leasing/RTO such an unwise choice financially, the company behind it (WNLI) is awful to deal with and they want to sign up.
Very frequently the customer will spend a considerable amount of time on the phone to set it up. Very frequently the lease pre-approval offer doesn't pan out and the customer gets upset and asks "why" they were declined or "why" their offer is power than the pre-approval if there's no credit check. They think WNLI is Sears and so YOU and Sears are to blame.
Inevitably, if everything works out with opening the lease, the customer comes back in a few weeks later due to some kind of issue with WNLI, and they are angry. So, we have to call them on their behalf and get bounced around to some of the lamest, rudest, disengaged call center employees to try to fix the issue (usually payments). They could care less and are pretty dull. I know that I've had to repeat myself several times, because they couldn't retain the information the customer or I gave them. They all must be on drugs. Returns/exchanges are a drag, too. Those are even worse.
I've quickly learned to push layaway as much as I can. WNLI is a raw deal. And, as annoying as it is to push Sears cards like there's no tomorrow, those are a much better deal than the lease if you can get one.
Been done how long but still here..???
You are trolling sympathy from people who are being laid off. It’s sone sick pathetic stuff. People do not respond to this waste.....
Whose trolling ? We all know the ship is going down. To deny it and keep on cheerleading is not going to provide anything positive for anyone.
maybe, but it's a darn good way to get the merchandise off the floor and out the door , once it's used it can be sold off as scratch and dent if repossessed . I would think that they would use collections to end up making a deal for final clearance price after evaluation of the account.
yes - what zkw said
Of course they will still be on the hook for payments and terms even if the company goes under. Whynotleaseit is going to still want their money from the customer! Just like if you use a credit card at a closing store. The credit card still wants it’s money, they are still going to send you a bill!
It's a way to liquidate any personal use equipment /non commercial appliances . If they make the first few payments till the liquidation they will probably get to just keep the merchandise. In after hours trading stock went down to $2.85 last night I have not checked yet this morning
This screams desperation:
https://www.prnewswire.com/news-releases/sears-and-kmart-launch-online-lease-it-program-300640725.html
"We know you can't afford it. Credit card companies know you can't afford it. Get it anyway."