I heard a rumor from someone at HE saying they got an email today that the company was going private and merging under one brand? This is probably b---s--- but can anyone from HE confirm or deny this email?
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I don't work at HQ, but this is nonsense. No one knows who will win the bid, or what the structure would look like, so the chance that someone would send out an email that makes a promise is zero.
@agc I didn’t hear it directly from someone at HE, I heard it from a third party who knows someone there. The original source can’t share the email itself, making me skeptical, which is why I came here.
Rather than starting another useless thread, why not ask your friend from HE to show you the email?
I think any go forward privatization would require the store level to get a
grip on hiring decent, responsible people. My store had too many 18year
olds working in hardlines, with NO experience or training on L&G or tools.
Raise the pay, get good sales people. Maybe even a few past sears associates
that go sick of store level drama/low pay/miss management.
Without improvements to CUSTOMER SERVICE, you won't get folks coming
back to a retail brand that has been in the Negative press for the past few months.
IMO.
The bid is for him to acquire the company. That is private. Nothing public about it at that point. No longer will he have to make sales or profit or store counts a public disclosure. Wont have to answer to anyone.
Sounds logical if his bid is accepted at auction. Employees might even need to re apply to the new company.
No such email at HE today. I don't think we will know any updates until after Monday
And who wants to shop at this sh-- hole when most of the vendors will be gone?! What is there going to be left to even buy?! It's a god damn joke at this point.
I wouldn't be surprised if Lampert did take the company private and keep like 250 stores.
The fewer stores there are left, the fewer online orders you get, since most people want the free store pickup (especially with the increasingly high minimum order for free shipping).
$10 billion a year???? That's BS and you know it.
$10 billion per year my f---ing a--...this company never even made close to that in years!
Wouldn’t surprise me in the slightest. Haters who want liquidation focus on physical retail and ignore digital commerce and assets like SYW which make e-commerce successful. Plus, profitable stores with loyal customers remain an asset.
Dump the debt and pensions, keep the profitable stores and dot-com, and you’re looking at a profitable $10 billion per year retailer.