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Has The Cat Run Out Of Lives ? Eddie Lampert & Sears

TedTed
in Fund Discussions
FYI: Sears, the 125-year-old icon, has 24 hours to survive.

The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole, people familiar with the situation tell CNBC. Without that bid or another like it, liquidators will break the company up into pieces.
Regards,
Ted
https://www.cnbc.com/2018/12/27/sears-may-need-to-liquidate-if-no-bid-comes-in-by-tomorrow.html

Comments

  • MarkMark
    One can only hope.
  • hank
    edited December 2018
    Did EL ever visit any of his dilapidated and vacant-of-shoppers KMarts? Would sure like to know. How could he have been anything but unimpressed?

    Here they pulled the rug out from under the local Ma & Pop Sears franchise by selling the same Sears branded items at the KMart down the street for 10-20% less. Now that’s smarts!

    They don’t know how to run a store, but when they decide to sell-out the remaining merchandise in one they’re closing they bring in a whole new crew. It’s one fast and efficient gang. Like a well trained army.
  • rforno
    edited December 2018
    I swear EL bought Sears/KMart for the real estate value and never cared about the demise of the actual stores/brands.

    The 2 Sears near me here in Northern VA were dismal, empty, stuffy places for years --I'd only use them for Lands End returns and couldn't wait to get out again.
  • MarkMark
    'Craftsman' tools, 'Kenmore' appliances and sales on quality clothing for me.
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