Sears Closing More Stores

[macuu222]

Whole foods Market.

[PaulW]

Blockbuster Video

[Midnight Rambler]

quote:

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Originally posted by terracore

All of the existing Sears and Kmart stores will eventually be closing. This is a process that started many years ago when they were bought out by a hedge fund that only saw the company as a collection of assets to be exploited rather than a retail institution worth preserving.

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Yep, same thing that happened to Toys R Us and dozens of others, plus the Denver Post, Village Voice, and other media outlets: buy up a company that's having trouble but could be fixed if someone cared to, and instead suck out every dollar from it, fire all the workers, and liquidate all the assets to pay the "debt" which is actually what you paid to buy it.

[terracore]

The thing that sucks the most is that Sears had a pension. There are going to be a lot of retired folks that are about to lose a good percentage of income they were counting on.

[Old Croc]

quote:

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I can hardly wait to see what replaces our Sears

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We need a Harbor Freight Tools, a 99-cent store, or a foreign-size Costco.

[HereOnThePrimalEdge]

Sears may have been thrown a lifeline. Filings are expected tomorrow morning. If it goes through, a majority of their stores will stay open at least through the Christmas season this year.

(Reuters) - Sears Holdings Corp CEO Eddie Lampert has stepped in to contribute toward a financing package of between $500 million and $600 million that the U.S. department store operator was close to securing on Sunday to fund operations during bankruptcy proceedings, people familiar with the matter said.
https://www.reuters.com/article/us-sears...SKCN1MP04L

[DTisme]

Paul W. - both your posts made me laugh out loud.

[PaulW]

That's nice to hear, thank you!

[HereOnThePrimalEdge]

142 Sears & Kmart stores will start closing in the next two weeks.
There are no Hawaii stores on the list, so Hilo Sears will remain open for now.

https://www.cnn.com/2018/10/15/business/...index.html

[KiminPL]

One store that will be dearly missed if it closes...

[url]https://www.wsj.com/articles/the-last-place-on-earth-where-everyone-still-loves-kmart-guam-1516118140[url]