Thread regarding Sears layoffs

sorry about that, early morning, no coffee yet :)

@rlp I stated sears store numbers are UNDER

Kmart is OVER

They probably did forum shop for where to file for bankruptcy. Also their law firm has great familiarity with the SDNY court.

Hopefully the judge can get up to speed quick on the retail business or because he doesn't know it, actually has a clearer perception of the nonsense SHC is likely to spew throughout the case.

Some judges are pro-business in a way that could favor Eddie so let's hope this isn't one of those cases. Eddie's smart enough to figure this out and the bankruptcy specialists that he hired are going to look for these advantages too.

You are wrong on the store numbers. Sears is under.

@vdv that's if everything goes as planned.. So far things are looking very uncertain for Fast Eddies much needed $300 million loan

That's the plan. But I have a feeling it's not going perfectly to plan. Sears did not expect the vendors to try to claw back products. There are a lot of unexpected issues, such as vendors refusing offered terms. Eddie is also not happy that he's not first secured lender, nor does it sound like he is having much success finding another lender to step in with him. It can easily go off the rails, and the cart is going awfully fast.

Is this going to drag until May 2019. That's what I got from reading OP post.

Prime clerk website has all the documents for great information

Day one motion if you go to part 7..it’s a 304 page document but it does list all the storesin the most recent closing as “unrestricted” stores.

The next batch of closings are listed under “ designated” stores.. approx 210 of sears and Kmarts.. store numbers are only way to tell them apart.. anything under 3000 is sears over is Kmart

The last batch listed as “restricted” and I believe these are the stores fast Eddie is wanting to make a bid on

I also noticed that just about all of Puerto Rico’s stores are on the “ restricted” list I hear they are pretty successful there. Not sure what damage they suffered with last years hurricane but they are probably the most dominant large retailer there

It would be a miracle if sears/Kmart did not file for ch 7 liquidation in January 2019 with the amount of debt they owe, not only to the vendors for goods but to utilities tax authorities and the lists are huge!!

It’s a shame that so many people will not only loose any severance they thought they might get for sticking it out like in previous store closings but also be loosing their incomes

Good luck everyone

We all should find jobs now while companies are hiring so many for the holidays