Someone is desperately pumping up a false narrative that Sears cash on hand is suddenly low and therefore BK is imminent.
Our cash on hand position has been low for years, got as low as $10mil several years ago.
Not sure what this sick losers game is but please ignore it, we have real issues to worry about, cash is not one of them.
Real Issues -- Unable to refinance any more debt?
Wouldn't it be awesome if the "real problems" included lawsuits and jail time? Can't blame a gal for dreaming....
Will the Pension Guarantee Trust finally figure out that the "ring fence" is a piece of string, or are their calculators still needing new batteries?
The only false narratives on this site are from the cheerleaders that insist that Sears is not in bad shape and will make a turn around.
If cash is not king and cash is not the main problem I would suggest you Google 'Moviepass" and see what it looks like when a company runs out of cash.
@1xhu Exactly, and by the way, there isn't a whole lot left in the way of assets to sell. Just have to unload Kenmore, DieHard, SYW, A&E Home Service and a few other intellectual property assets and then we are done. The liquidation of the real estate assets are pretty much done besides the DCs, the headquarter offices in Hoffman and maybe a handful of stores, though the vast majority of stores with any appreciable value--the prime properties in a good location in a busy mall or booming city--were cherry picked and sold off long ago.
If you want to know why the "good" stores close and the poor-performing stores get to stay around, this is why. Most of the good performing stores only did well because of the quality of their location. If the location is good, it's valuable on the market, and so it gets sold. The only thing is that the situation becomes very rocky when the store base is made up of marginal performing stores now that the top performing stores were mostly sold off in the past. The loans sustain the operations, albeit insufficiently, and in return, Eddie is moved up the creditor food chain.
Most of the stores that remain today are properties that Eddie more or less would be willing to sacrifice in bankruptcy and/or to fund the pension (ring-fenced properties). It's just not worth the bother to sell those stores since they are usually stuck in dying malls or stagnant towns and are basically worthless to any other retailer or, for that matter, commercial real estate investors. Those will be sold off during bankruptcy for pennies on the dollar.
The assets are the only reason Eddie is granting these loans -- to keep it alive long enough to strip any assets of appreciable value.
As long as Eddie keeps putting his money into the company we will have cash and stay open. When Eddie stops we're screwed. Eddie is the only entity keeping the stores open.
That makes two false narratives and counting . One by the shorts ; the other by the next Jimmy Buffet .
Posts on this forum are primarily observations about the condition of this company......Do these cheerleaders actually think that by making posts claiming Sears is actually in good health will make a difference in the inevitable bankruptcy of Sears Holdings?....The collapse of Sears will not be caused by anything posted on this forum.......
The Cheerleaders need to convince the customers to shop at Sears instead of trying to convince employees that work at Sears that the company is in good health.
What are you gonna say next? Another post about how Kresge's Is Strong? Or how about The False Narrative that Kmart is Not Present or The False Narrative that Kmart is more expensive??
Go back to your cave SHLD Cheerleader.... The bottomline is that SHLD IS almost out of money and SHLD WILL be going under very soon.
Cash is not an issue? Hahahahahahaha, bwahahahahaha, hahahahahahaha, bwahahahahaha....let me catch my breath.....hahahahaha, bwahahahaha, hahahahaha.
Suddenly low on cash on hand? Hahahahaha, bwahahahaha, hahahaha, bwahahaha.
Wow, best laugh I've had in a long time. SHLD has had dwindling cash on hand for a loonnnggg time. The cash runs out in a few weeks. The problem then will be how in the heck do we liquidate so many stires at the same time.
Thanks for the laugh SHLD Cheerleader!
That’s what happens when you’re down 24% to plan!
Well, at least we know that the reports of a paid poster are true.
So you are admitting that there are still problems in the company. Well no sh--, Sherlock! But let us not kid ourselves to think that cash flow isn't a problem either because it sure as hell IS a problem, in fact it is the MAIN problem with this company.
Though I will agree, there is another major problem I can come up with and that's debt. LOTS of debt. Which actually does coincide with cash flow. As in, how the f--- are we going to pay off the hundreds of millions of dollars in debt when they are less stores in the company and the stores that we have left are not making enough money?!
To OP: This is a public forum where people post opinions. It is not a news site, so no one cares whether it's true or false... until it's posted on a real new site.
I swear this Eddie lovers come and just bash on the forums that Sears is perfectly fine. Cash is not an issue that was a chuckle if it wasn't than why is the company in 5 billion dollars in debt?
Sears is running out of time that stock is under $2 what else do you want. If it keeps going down vendors will definitely start pulling (Whirlpool for example) out and if they want business its up front cash payments to even sell to Sears at this point.
Issue #1 unhappy miserable employees. Please quit.
Thanks for letting us know Eddie. Hope you are enjoying a weekend on the boat.
Cash isn’t one of the issues lol are you for real. Then what the he11 are they.
https://www.fool.com/investing/2018/07/28/sears-holdings-has-an-expiration-date.aspx
OP: We shall see.
Really? Then why won't we pay our vendors on time? We can't even pay the cash in advance, so orders are being delayed!
"we have real issues to worry about, cash is not one of them." Really? Like what?