So trying to put some fear in the shorts? The company liabilities beyond assets is 30 dollars per share and the all inclusive loss including the pension loss was 2 billion dollars last year. What is the offer amount in buyout. The road to the end often has ups and downs, but the cash bleed wins out.
I got the second spot in the first row of cars closest to the door at 1:30PM. The parking lot was surprisingly full elsewhere in the shopping center. In quick summary the problem seems to be woman clothing. The area nearest the escalators was 60% off others 50% off 30% off. Jewelry 90% off signs. I was taken back at the dramatic price cutting. This store is in a modern Center. I would venture the store has not had any paint in 20 years. The floors looked swept but not washed and waxed in a long time. There was air flow but no A/C. This store is near the ocean. Top floor of tools, outdoors mattresses lawn care. 6 employees plus one repair person 1 person looking like a shopper one other looked like passing through the building. Silent. Second floor appliances etc no one shopping appliances . 2 shoppers looking at home goods several employees. Ground floor 4 persons 2 guys looking at a pair of work boots 4 employees. In abut 30 minute saw 2 people at the cash registers. The customers were 65 years old average. It appeared there may have been 15 employees on 3 floors and upwards of 10 other persons in the store but some were couples together. Mens clothing was not marked down as much but the selection is much smaller occupying much less space. Great tool selection , not one customer.
In 8 months we will be in early January. It takes 8 months from the time a sillier enters into a contract to sell shoes to SHLD until they are paid. In a little less than 8 months Sears will miss making the pension payment of say 350M needed. What do you say to your salesperson calling on Sears tomorrow?
Not only would the proceeds go to the pension. The KCD royalties fund their self insurance program in lieu of an insurance policy. Don't slip and fall at Sears. This is just a ruse to buy time with suppliers
and the preferred will own the company for total investment of $250M or$ 1.01 per share. The end