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Started By
Message
Sears gets a short-term life raft
Posted on 1/16/19 at 8:32 am
Posted on 1/16/19 at 8:32 am
LINK
The judge still has to sign of off the deal, which isn't guaranteed as there are objections, but it's probably likely.
So Sears/KMart will continue on with approx 400 stores, new debt (taken on to fund the purchase), and the same problems it has always had, with the same guy that could not stop the problems in 13 years of control.
Without a fundamental change in the way Lampert has done business, I see no chance that this thing works, and we will be back here in a couple of years, if not sooner.
Is he really going to invest in the stores? With what money? Is he really going to improve the customer experience and product selection?
Normally, bankruptcy restructure allows for a clean slate. But in this one, with the same guy in charge, and new debt taking the place of old debt, I just don't see what is different.
quote:
Sears Holdings reached a roughly $5 billion deal with its chairman, Eddie Lampert, early Wednesday morning to keep the company, and roughly 400 stores, in operations, according to a person familiar with the situation.
The judge still has to sign of off the deal, which isn't guaranteed as there are objections, but it's probably likely.
So Sears/KMart will continue on with approx 400 stores, new debt (taken on to fund the purchase), and the same problems it has always had, with the same guy that could not stop the problems in 13 years of control.
Without a fundamental change in the way Lampert has done business, I see no chance that this thing works, and we will be back here in a couple of years, if not sooner.
Is he really going to invest in the stores? With what money? Is he really going to improve the customer experience and product selection?
Normally, bankruptcy restructure allows for a clean slate. But in this one, with the same guy in charge, and new debt taking the place of old debt, I just don't see what is different.
18
Posted on 1/16/19 at 8:33 am to LSUFanHouston
This will fix everything!
Posted on 1/16/19 at 8:42 am to Displaced
Posted on 1/16/19 at 8:42 am to LSUFanHouston
SHLDQ for those wondering
Posted on 1/16/19 at 8:44 am to LSUFanHouston
Dey gone
Posted on 1/16/19 at 8:45 am to LSUFanHouston
Sears is one of the worst stores I've ever had to deal with.
Posted on 1/16/19 at 8:53 am to LSUFanHouston
They are pretty much getting rid of any line that holds value for most people.
No one wants to go to these types of department stores any more. They need an entirely new business model or the need to just give up.
No one wants to go to these types of department stores any more. They need an entirely new business model or the need to just give up.
Posted on 1/16/19 at 8:53 am to LSUFanHouston
The morale must be awful. It was bad before.
Posted on 1/16/19 at 8:55 am to LSUFanHouston
quote:
Without a fundamental change in the way Lampert has done business, I see no chance that this thing works, and we will be back here in a couple of years, if not sooner.
It isn't about saving the company. Lampert is doing this to make himself more money.
Posted on 1/16/19 at 9:05 am to GetCocky11
For a century the Sears catalog was the Amazon of its time.... too bad they weren't smart enough to put the whole catalog on the internet 25 years ago
This post was edited on 1/16/19 at 9:06 am
Posted on 1/16/19 at 9:10 am to LSUFanHouston
Posted on 1/16/19 at 9:12 am to LSUFanHouston
Sears has been on death's door for a decade
Have to appreciate the resilience, IMO.
I mean, it's a completely fricked business model (tools, major appliances, cheap clothing - under one roof at a shitty mall!) that makes no sense in 2019 and they keep finding ways to keep it going
Have to appreciate the resilience, IMO.
I mean, it's a completely fricked business model (tools, major appliances, cheap clothing - under one roof at a shitty mall!) that makes no sense in 2019 and they keep finding ways to keep it going
Posted on 1/16/19 at 9:33 am to GetCocky11
quote:
It isn't about saving the company. Lampert is doing this to make himself more money.
I agree, but how is he pulling it off? Everyone with a pulse knows what's happening here, yet, he's using very little of his own money. It's all be funded by debt and investors in his hedge fund.
I just don't understand how other entities are continuing to throw good money after bad.
Posted on 1/16/19 at 9:37 am to LSUFanHouston
Didn't Sears buy Lands End?
Posted on 1/16/19 at 10:13 am to LSUFanHouston
" ... same problems it has always had, with the same guy that could not stop the problems in 13 years of control."
Could just as well been describing Congress except add another couple decades to cover all the Poster Children for Term Limits
Could just as well been describing Congress except add another couple decades to cover all the Poster Children for Term Limits
Posted on 1/16/19 at 10:47 am to mattloc
quote:
For a century the Sears catalog was the Amazon of its time.... too bad they weren't smart enough to put the whole catalog on the internet 25 years ago
True story. Sears will not price march in store their OWN online pricing. They make you go to a kiosk, buy it online, then come back when it’s “ready for pickup.”
I’m shocked they are a failing business.
Posted on 1/16/19 at 10:59 am to udtiger
quote:
Didn't Sears buy Lands End?
Not sure. But they need to make a hard play for Members Only
Posted on 1/16/19 at 11:13 am to udtiger
quote:
Didn't Sears buy Lands End?
Years ago, and sold it a few years ago to raise cash.
Posted on 1/16/19 at 11:15 am to elprez00
quote:
Sears will not price march in store their OWN online pricing. They make you go to a kiosk, buy it online, then come back when it’s “ready for pickup.”
I have had problems with other retailers, where they won't honor their online price in-store. Not just Sears.
Every time it's the same excuse - "Online is a different distribution channel". Which I kind of get if the item is actually shipped. But, if it's for same-day store pickup and it's store, that's bogus.
Kohl's, Best Buy, JC Penney - have had issues with all of them on this.
Posted on 1/16/19 at 11:25 am to LSUFanHouston
I was in Lowe’s this morning. It almost seemed like being in Sears with all the Craftsman items everywhere.
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