Sears files Chapter 11

Sears Holdings Corp. filed early Monday for bankruptcy protection from creditors, marking the collapse of a company that dominated American retailing for much of the 20th century. Its Chapter 11 filing will allow Sears to reorganize, and perhaps emerge from bankruptcy with a portion of its business still alive.

  • Like 1

Share this post


Link to post
Share on other sites

This has been a long time in the making and periodically predicted since at least 2014. Chairman and now-former CEO Eddie Lampert is about as bad a CEO as you can get. In addition, the company has long lost its way, ignoring the need for innovation in the face of smart competitors.

Share this post


Link to post
Share on other sites

Just now, Joanna said:

This has been a long time in the making and periodically predicted since at least 2014. Chairman and now-former CEO Eddie Lampert is about as bad a CEO as you can get. In addition, the company has long lost its way, ignoring the need for innovation in the face of smart competitors.

wasn't Lampert said to be new Buffett? 

Share this post


Link to post
Share on other sites

3 minutes ago, Joanna said:

This has been a long time in the making and periodically predicted since at least 2014. Chairman and now-former CEO Eddie Lampert is about as bad a CEO as you can get. In addition, the company has long lost its way, ignoring the need for innovation in the face of smart competitors.

Thing is that Julius Rosenwald, the man behind the explosive success of Sears, making it the combination of Walmart and Amazon in its day with stores and catalogs, understood opportunity

Share this post


Link to post
Share on other sites

5 minutes ago, Meanwhile said:

wasn't Lampert said to be new Buffett? 

Lampert lended money to the company through his hedge fund, takes in millions on regular payments, and apparently stands as a secured creditor. In a bankruptcy, his potential losses would be in the class treated with priority. 

Share this post


Link to post
Share on other sites

1 minute ago, 李伟王芳 said:

Lampert lended money to the company through his hedge fund, takes in millions on regular payments, and apparently stands as a secured creditor. In a bankruptcy, his potential losses would be in the class treated with priority. 

I'm sure the lawsuits will be filed against Eddie and Sears Holdings. The SEC really need to launch a probe on Eddie's business transactions.

Share this post


Link to post
Share on other sites

3 minutes ago, Sefko Trafikant said:

I'm sure the lawsuits will be filed against Eddie and Sears Holdings. The SEC really need to launch a probe on Eddie's business transactions.

Disagree. Lampert essentially engineered a 10 yr (mostly) orderly liquidation. Had bankruptcy been declared years ago, the glut of properties dumped on the market would have drastically reduced Sears eventual breakup value. Sure, Lampert will come out ok, but it took 2 decades of his life to do it.  Sears was going bankruptcy  whoever ran it, so shareholders didn't lose any more money because Lampert ran it.Honestly, it is amazing he kept Sears from declaring bankruptcy  as long as he did. 

Share this post


Link to post
Share on other sites

5 minutes ago, Nigerian Price said:

Disagree. Lampert essentially engineered a 10 yr (mostly) orderly liquidation. Had bankruptcy been declared years ago, the glut of properties dumped on the market would have drastically reduced Sears eventual breakup value. Sure, Lampert will come out ok, but it took 2 decades of his life to do it.  Sears was going bankruptcy  whoever ran it, so shareholders didn't lose any more money because Lampert ran it.Honestly, it is amazing he kept Sears from declaring bankruptcy  as long as he did. 

its much more difficult to just say Sears is bankrupt. He did 4-5 spin-offs and sale and lease back deals etc.

Share this post


Link to post
Share on other sites

42 minutes ago, JohnAtronis said:

Sears Holdings Corp. filed early Monday for bankruptcy protection from creditors, marking the collapse of a company that dominated American retailing for much of the 20th century. Its Chapter 11 filing will allow Sears to reorganize, and perhaps emerge from bankruptcy with a portion of its business still alive.

If Sears does not place orders for spring merchandise, then it raises red flags about the company's future in 2019. Unless, they plan to streamline the business to sell only home appliances and furniture.It is going to be interesting to see the potential buyers of Sears. Amazon?

Share this post


Link to post
Share on other sites

49 minutes ago, Meanwhile said:

wasn't Lampert said to be new Buffett? 

Sears liquidation could create handful of winners and over 100,000 losers

Share this post


Link to post
Share on other sites

I am expecting for Bernie to look in it

Share this post


Link to post
Share on other sites

3 hours ago, 李伟王芳 said:

I am expecting for Bernie to look in it

$16/hour jobs are just the right thing to do.  Maybe you're right, Bernie could make a go of it to show Amazon how it's done!  Jeff will watch, I'm sure.

Speaking of Jeff, does anyone else think he might be thinking about a run for the presidency himself out in the future?  When I saw him semi-caving to the $16/hour deal, this thought came right after it.  He's got his newspaper already.  Maybe a few more humanitarian gestures and then, "Ladies and gentlemen, after thinking long and hard and talking extensively about it with my family............"

Share this post


Link to post
Share on other sites

RIP. Sears here in Mexico is booming tho! I guess we're just a few decades behind the USA in retail. Amazon still hasn't taken off here yet ;]

  • Like 1

Share this post


Link to post
Share on other sites

4 minutes ago, CMOP said:

RIP. Sears here in Mexico is booming tho! I guess we're just a few decades behind the USA in retail. Amazon still hasn't taken off here yet ;]

Amazon projected to have sales of half a billion $$ in 2017 (latest numbers I could find).

Sales revenue generated by Amazon in Mexico in 2016 and 2017

The giant eases on down!

  • Like 1

Share this post


Link to post
Share on other sites

4 minutes ago, Dan Warnick said:

Amazon projected to have sales of half a billion $$ in 2017 (latest numbers I could find).

Sales revenue generated by Amazon in Mexico in 2016 and 2017

The giant eases on down!

Just crushing it year over year. Still not at it's prime. They've been pushing Amazon Prime, opening new warehouses. The thing is - Mexicans are still a bit hesitant using credit cards (mostly older generations) and delivery service is still a problem - obviously to your suburban smaller cities. Mexico City is just as "advanced" as San Francisco - you see these damn scooters everywhere now! haha. 

  • Like 1

Share this post


Link to post
Share on other sites