Thread regarding Sears layoffs

The Go Forward People's Thesis

After Losing $12B in 8 years, their thesis is that after being the most incompetent retailer in the history of retailers, Eddie is suddenly going to turn a new leaf, and transform Sears from a company that can lose $2B in 9 months and even had had to borrow $700M just to keep the lights during the holiday season, will suddenly transform into a money making machine after laying off all the maintenance folk, asset protection folk, and after having not invested in the stores for a decade and a half. Customer traffic is abysmal, mall traffic and real estate value has crashed, even Seritage's survival is in doubt. Vendor relationships are entirely one of hostility, and customers are in open disdain after the fiasco of executive bonuses during the bankruptcy, which press relations did absolutely nothing to address. The product mix now looks like that of actual liquidation companies e.g. Big Lots, and in truth, after shuttering 2,500 stores and shedding nearly 300,000 jobs, Eddie Lampert is an expert liquidator. His partner in crime, Bruce Berkotwitz has straight up admitted as such. It's all he's been doing with the Sears and Kmart brands for 15 years now. And it doesn't appear he has any plans for anything different. Sears has a lot of value. In its Net Operating Losses, and in its intellectual properties, and some in its declining real estate. Its operations? Gods no. Look for Eddie to continue shedding that and handing that off to the nearest s---er if he possibly can posthaste.

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Post ID: @OP+X9KZpCx

4 replies (most recent on top)

Big Lots has been moving away from liquidation resale.

http://www.hometextilestoday.com/article/546418-big-lots-unveils-new-brand-positioning-store-prototype/

https://retailleader.com/big-lots-expands-private-label

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Post ID: @evy+X9KZpCx

I sometimes question your commitment to Sparkle Magic.

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Post ID: @gae+X9KZpCx

Have you been in a Big Lots lately? Their stores are like Sak's compared to Kmart...at least Big Lots has merchandise on their shelves.

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Post ID: @ucd+X9KZpCx

100% agree with you OP. All that has changed with this? Eddie now gets to steer the liquidation on his terms and gets all the money, no courts or anyone to answer to. If someone wants to even buy a current Kmart or Sears that's for sale he'll sell it almost right away. Not to mention he'll probably start closing even the left over stores.

Of course, he'll come out of this saying "Well I tried guys...you can't hate me now!!!".

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Post ID: @ndk+X9KZpCx

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