Sears Preps For Liquidation As Lampert Bid Fails

[Palumboism]

Sears preps for possible liquidation as Lampert bid fails

(Bloomberg) — Sears Holdings Corp. is preparing a potential wind down after Chairman Eddie Lampert’s bid to buy several hundred stores out of bankruptcy fell short of bankers’ qualifications, people with knowledge of the matter said.

The iconic retailer started laying the groundwork for a liquidation after meetings Friday in which its advisers weighed the merits of a $4.4 billion bid by Lampert’s hedge fund to buy Sears as a going concern.

https://www.chicagobusiness.com/retail/sears-preps-possible-liquidation-lampert-bid-fails


Bye bye Sears and Kmart.

[sync pulse]

The hedge fund looted Sears...also the GOP banshee cry of "De-regulation" during the post Vietnam era certainly didn't help.

[Humble Narcissist]

The hedge fund looted Sears...also the GOP banshee cry of "De-regulation" during the post Vietnam era certainly didn't help.

Yes, it's the GOP's fault they ran a shitty business.

[Wiggs]

PIP

[IroNat]

Goodbye Sears you suck and take Kmart with you.

[Mr Anabolic]

Goodbye Sears you suck and take Kmart with you.

They used to be great.  When I was a kid I loved looking through the Sears holiday catalog.  It was about 600-700 pages if I remember correctly.

This Lampert guy is a scumbag.  He bankrupted a few other companies too.  He'll get a nice golden parachute. 

[IroNat]

They used to be great.  When I was a kid I loved looking through the Sears holiday catalog.  It was about 600-700 pages if I remember correctly.

This Lampert guy is a scumbag.  He bankrupted a few other companies too.  He'll get a nice golden parachute. 

Yes, Sears was great but they've been awful for decades now.  They were going downhill in the 80s.

Knew a guy who was a retired store manager who told me how they were declining back then.  Being a store manager was a highly paid position.

Lampert is a corporate vampire.  Capitalism in it's less desirable form.

[Purge_WTF]

 Is Sears saved?

[deadz]

Garbage retailer. Good riddance. I don’t go near malls anymore.

[Coach is Back!]

Great time for me and my friend to go buy cheap and re-sell on eBay...lol

[Palumboism]

They used to be great.  When I was a kid I loved looking through the Sears holiday catalog.  It was about 600-700 pages if I remember correctly.

This Lampert guy is a scumbag.  He bankrupted a few other companies too.  He'll get a nice golden parachute. 

Lampert's a corporate raider.  He wasn't even trying to turn around Sears of Kmart.  He just wanted to sell of the real estate.

Both stores could have survived if they were modernized and shrunk down, but that wasn't his interest. 

[Mr Anabolic]

Lampert's a corporate raider.  He wasn't even trying to turn around Sears of Kmart.  He just wanted to sell of the real estate.

Both stores could have survived if they were modernized and shrunk down, but that wasn't his interest. 

Yes, I knew he was a scumbag from day one.  He purposely ran the company into the ground.  Same thing will happen to Macy's, JC Penny and Nordstrom's.   

BTW, for anyone who trades stocks... Macy's (M) and Nordstrom (JWN) are very good shorts right now.  JC Penny (JCP) is currently $1.25 per share... too late to short that one.

[SOMEPARTS]

The hedge fund looted Sears...also the GOP banshee cry of "De-regulation" during the post Vietnam era certainly didn't help.

[Palumboism]

Sears reaches deal with Chairman Eddie Lampert to save company and roughly 400 stores

Sears Holdings reached a roughly $5 billion deal with its chairman, Eddie Lampert, early Wednesday to keep the company, and about 400 stores, in operation, according to people familiar with the situation.

https://www.cnbc.com/2019/01/15/sears-deal-with-chairman-eddie-lampert.html


Lampert gets one more chance to run Sears into the ground again.  400 stores will be saved.

[sync pulse]

  400 stores will be saved.

For dessert?...

[Humble Narcissist]

Sears reaches deal with Chairman Eddie Lampert to save company and roughly 400 stores

Sears Holdings reached a roughly $5 billion deal with its chairman, Eddie Lampert, early Wednesday to keep the company, and about 400 stores, in operation, according to people familiar with the situation.

https://www.cnbc.com/2019/01/15/sears-deal-with-chairman-eddie-lampert.html


Lampert gets one more chance to run Sears into the ground again.  400 stores will be saved.

They should sell all of the brick and mortar stores and just sell online.

[Palumboism]

For dessert?...

Jan. 4, 2017
CEO to give loan up to $500 million; his tab now near $1 billion

CEO Edward Lampert — the company’s largest investor — agreed to loan Sears $321 million immediately with another $179 million more available in the future. It’s the second time in a week he stepped in to fund the ailing retailer. Lampert and his hedge fund had now lent Sears more than $1 bilion since September 2014.

https://www.chicagotribune.com/news/ct-sears-company-history-timeline-htmlstory.html



Lampert load Sear a billion dollars.  Seems like this could create a conflict of interest where he wouldn't mind if the store went bankrupt. 

[Palumboism]

For dessert?...

Yes, the first 3564 store closings were the main course and the last 400 store closings were saved for dessert.  He still has more plundering to do and can still damage the brand further.  Soon Sears will compete with the dollar store, but the brand will have a lower reputation.  

Lampert's hedge fund made a fortune bankrupting the firm the first time and there's still more money to be made bankrupting it a second time.  Shareholders and day traders beware this guys a CROOK.  Sears will be bankrupt again, but only he know when that time will come, until then, it's another roller coaster ride for the share price.