Thread regarding Sears layoffs

A hedge fund like Eddie's ESL could take Sears Holdings private, but primarily to extract name value. They could cherry pick a few things with tangible value while leaving the debt-laden garbage with the shell of what is left. It would be like the remnants of CompUSA or Circuit City after those chains collapsed.

It appears the rebranding of Sears Mastercard into Shop Your Way Mastercard has also ended. Cardholders given SYW-branded cards are being reissued Sears Mastercard. I had wondered if SYWR was being positioned to survive in a post-Sears environment, but apparently not.

Csm, you're worried about a few rewards points? Are you kidding me?

So....what do the cheerleaders and "ain't gonna happen" folks have to say now?

Definitely the final Christmas for us, likely under Chapter 11. Can’t see us going Chapter 7 right away since the holiday season is fast approaching. Think it’ll end up a liquidation come January.

@ovt, hahahahaha, um Amazon doesn’t buy losers, they only invest in winners. They will not be riding in on a white horse, Sears is not worth a dime to amazon so they won’t pay a cent for it.

I also got an alert so does this mean tomorrow the stock will go under .40 cents? This is pretty sad man whoever really thinks we are going to see another holiday (we be lucky to just be in it for the liquidation for this coming up one) is just delusional at this point.

You guys made it to Zero Hedge.

@1pc - "Umm yeah, what OTHER options?!" Well, like that option where Amazon rides in on a white horse and saves the day. Or the option where a mysterious party takes SHLD private and pays off all its debts and pension obligations. You know, all those fairy tales, oops, I mean options.

@VzDylcY-csm Kiss them goodbye.

"Sears continues to discuss other options and could still avert an in-court restructuring, the people added."

Umm yeah, what OTHER options?! LOL

What happens to members Rewards in this scenario ?

Told ya!!!!

Welp, about fing time they just come out and say it. And I'm sure there will be id--ts that will still say "OH THEY WILL SAVE LIKE 100 SEARS AND 100 KMARTS AND EVERYTHING WILL BE FINE" yeah....ummm no...that isn't happening.

Secured creditors are better off getting a good chunk of their debt repaid vs shaping for stock in a company that will belled out. Unsecured creditors , landlords and suppliers will get hit the worse. . Employees will get pay , vacation , no severance and some minor reduction in pensions, IMO.

There is no money, there is not enough revenue to restructure with, too much debt, too much unseeable real estate.....this will go, as the other poster said, just like Sears Canada and maybe even faster. It was June 22, 2017 that Sears Canada announced they were seeking protection - all stores were closed before the end of the year. Sears holdings has far more debt and a much higher cash burn rate so that’s why this could go faster.

And although I ate some popcorn tonight, I am not Popcorn. I'm the guy that found the link to a real news story from the WSJ. Amazing how many rumored filings this board has had to endure over the last three years. It got real when Eddie ran out of assets he can use as collateral to back yet another loan. In the end, it was predictable after all.

It seems likely this is a last ditch hardball effort to extract some sort of settlement with creditors before the bankruptcy trigger is pulled. It seems very familiar if you followed the demise of Sears Canada. Sears and Kmart's Xmas is increasingly likely to be a giant nationwide liquidation sale. Oct. 13 is do or die.

Eddie is just out of moves. Financial engineering only goes so far when your foundation is rotting and your leadership is criminally stupid.