it is not the rate of loss that will determine the end date. It is the reduction of credit and loss of suppliers willing to ship without letters of credit. Tough to pick. I think SHLD is trying to work something out with the BAC to extend credit line come April 17. Frankly they could file any day . Eddie just has to come to his senses that the longer it continues the less he will recover form his bonds etc.
We have a huge growth in corporate welfare. We give out food stamps because the rich refuse to play certain jobs enough to eat. You Tea Party sir?
About every 3 months I walk my local Kmart. It is in a nice neighborhood but near a target and Walmart grocery store. There always a lot of cars near the side where there is an auto repair store but almost no customers. Why the cars? I was told it is a carpool meet up spot near the 101 freeway entrance.
he has sold over a million shares the last 2 weeks. he cannot dump more faster without crashing the stock price
The company is bankrupt but has not filed yet. Liabilities are greater than assets by billions
There is no value as there have not been buyers for years. Sure some are leased in Kmarts. the Reality is they are a liability to tear down with environmental remediation costs.
Vendors bring this down in a hurry when the stampede starts and no short term financial reingeneering will be enough to stop it. Circuit City and radio shack vendors were the ones to pick its time to end
First tie to wave the white flag. He is setting you up for the end
100 day to find another 300M. Admits they will be squeezed for cash for holiday build up of inventory
Tesla is important in cell research to help combat global warming. Amazon is taxed in many states. Eddie came out as a sniveling wimp. He IMO is acknowledging failure and the end but accepts no blame. It is Tesla's fault. LOL
There is no plan for a turn around. As regards the online catalogue, I noticed that SHOS said electronic catalogue sales placed at their stores was down dramatically year over year. Does that transulate into the lonline Sears is fading too? I would expect so. As people do more online shopping they would convert to other retailers over time
any decent employee should and will seek the better wages. Those who remain, you got to wonder? Maybe making a living stealing inventory?
Their recent financial disclosure talked about it being tough to make the holiday inventory which requires cash now and how they are in discussions with suppliers about credit terms. This is the discussion Radio Shack had about 3-4 months before going under. The supplier concessions approached nearly 200M last year and as they said again a one time event. They see Eddie transfer or burn through assets that could repay them monies due. I don't think the suppliers play ball this time. The sales to cash for a soft goods supplier is about 8 months. As we know cash availability come end of the calendar year is very hard to rationalize at this point. They are going to have a very big pension shortfall payment to make or the FEDS pull the rug out from under them and grab the assets ring fenced. If sales continue to decline( I estimate another 7-8%) the suppliers will know early on and that's it!
40 cars 5 employees 5 customers. Employees park in front near the door to look like there are customers inside