Thread regarding Sears layoffs

Very few retailers survive Chapter 11 these days. The few that don't go into Chapter 7 liquidation go into Chapter 11 again the next year if not sooner, if the companies acquiring the properties don't sell off the pieces first, which is definitely what's being planned. People like to call it Chapter 22. Realistically, maybe a handful of outliers like the Guam store will survive because there is literally no other department store on the island, and probably something positive will happen to the store (Carlos Slim maybe?), but the writing on the wall is for everyone else. If you're not at least as successful as the nearby Walmart/Target/Macy's in a thousand mile radius, count yourself over and done.

My store is part of the ring fence agreement with the PBGC and is to be sold and proceeds go to the pension fund

My store is also on the list of 504 stores as "go forward" list of stores to be sold sometime in 2019

Either way, my store is not profitable and hasn't been in a long time.. How it escaped closing is a mystery

I believe all Sears kmarts will not survive ch11.. And with the recent news of 18 top execs sharing 8.5 million in bonuses, that the public will see this as even more of an excuse to STOP shopping Sears and Kmart

My store is depressing to even work at without any festive decorations to symbol that we are in the Christmas season, only the Tree Shop would give any hint to that

Wouldn't a store want to look festive to get the shoppers to spend more than $50 dollars so they can get $50 dollars free cash?

It's pathetic and the court should rip that bandaid off quickly!!

It is because they are under the impression that just because it is Chapter 11 Bankruptcy that it means they won't shut down. But they only need to look at other stores like Radioshack and Payless Shoes to see that plenty of stores close down and they both chains are almost non-existent.

Also I'm guessing they are trying to "play nice" because maybe they don't want to get sued or something, I don't know...the press is full of id--ts though.

The Omaha Sears stores were never all that successful. At one time my old store (1012, Merle Hay in Des moines) was in the same district as the two Omaha stores and we always beat them in sales (even when combined). Our store closed October 14th.