Even though it looks like we’ve entered calmer waters com comparing to the ch 11 period, i don’t see that much has changed. Our footprint is shrinking, our stores are shrinking, and I don’t see that anything was implemented to stop the cash burn at store level. Are we really further from liquidation, than we used to be, or maybe it just looks that way?
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THings HAVE changed but not for the better
Sears is a toxic workplace now
There ARE better companies to work for out there!!
So close to liquidation that it is knocking at your back door.
It is. Scroll down to this document.
https://restructuring.primeclerk.com/sears/Home-DownloadPDF?id1=MTU1NDQ2&id2=0
"The reorg plan would be for old Sears, however Eddie’s plan for new Sears is in one of the bankruptcy documents as part of litigation over the $50 million he wants to keep."
BS.
@xwx there should be no reason Frigidaire would stop supplying they got paid. What I would be more worried about is your store got no spring/summer clothes. We’ve got plenty.
The reorg plan would be for old Sears, however Eddie’s plan for new Sears is in one of the bankruptcy documents as part of litigation over the $50 million he wants to keep.
It’s amazing that daily sales don’t even cover payroll daily.. when you have at least 4-5 in management working daily, and they are not min wage workers, it’s amazing how they can float this ship for as long as they have.. they are all hanging on because they know they will be hard pressed to find another job starting out with what they are currently making..plus benefits
Yet it’s always the part timers whose hours get cut to the bone if any at all
It is becoming a very toxic work place at my sears because everyone can’t stand the store manager that’s been with sears forever but only at our store for about 6 months
i thought today was the day there was to be a turn around plan presented to judge drain..by the end of the day..
Shouldn't be long we can't even order anything made by Frigidaire anymore which is all the freezers and most the Kenmore stoves and microwaves and there's only a few lawn mowers available to order there's no spring clothes out only a few patio sets came in, even if they do get all that sorted out we already p-ss-d off alot of the loyal customers they're not coming back it's a ghost town most days yesterday's sale was a joke. Who's genius idea was it to run a tax event sale till May 4 and then change the prices on everything twice a week and have employees hand write signs all day just a waste of time and resources
@YAZZk10-frw I agree.
Since Transform Holdco is privately held, I doubt any numbers/ sales results will be released on a regular basis. Once Eddie has squeezed every last cent of value out of the remaining assets, he will shut the doors.
The retail side of transformco is in a controlled nosedive. Eddie has no need for the retail side now, as his desire has only been the real estate. The reason that he waited so long to do this was because of the Great Recession 10 years ago. Real estate values were too low back then. Once the economy got healthy, it was only a matter of time for this to happen. Liquidation of all retail before 2020.
I think it is only a matter of time before we go under. It all comes down to sales and we all know that they are no great. The only thing that is changing is the company’s name.