SEARS files for bankruptcy

[TheWorldNewsOrg]

SEARS ready to file bankruptcy… https://t.co/ruKKOIKHhv

— DRUDGE REPORT (@DRUDGE_REPORT) October 15, 2018

via .ORG

World News

[Space Merchant]

It was bound to happen. Was only a matter of time.

[James Thomas Rook Jr.]

It is my understanding (?) that SEARS owns Discover Credit Card ... and that for more than 20 years the interest made from Sears Credit Cards, was more than their profits from retail sales.

If true, and perhaps someone knows different if not ... that is a very interesting evolution .

[Space Merchant]

@James Thomas Rook Jr. It makes you wonder what is the next one to go. I can already see places like Gamestop, getting axed, perhaps Staples also. Kmart has weak knees.

[James Thomas Rook Jr.]

During the Obama Administration, here in the small town where I live, there was a Gander Mountain Firearms Superstore that did a terrific business.  A building as large as an average large grocery store.

I was very happy that MY little town could support a firearms superstore!

When Trump came in, people stopped buying massive weaponry, and the company went out of business.

I disagreed with almost everything Obama was, stood for, believed, and practiced, but I will have to admit, for eight years every time he spoke against  guns, he sold another 150,000. 

For eight years stores could not keep stocked with ammunition, even with factories producing 24/7/365., and the prices went up dramatically. 

THAT I did not care for.

I used to go into Gander Mountain and imagine I lived in a house with a closet that well stocked.

[Space Merchant]

@James Thomas Rook Jr. As with all things Amazon will take over, and robots... They learned to jump over things now and can ninja jump their way upstairs, as we speak.

[James Thomas Rook Jr.]

80% of non-food things I buy, I buy from Amazon cheaper than at a store, better selection, and delivered to my door for free.

If I wanted a Robot, that is the FIRST place I would look.

The second place would be Hammacher Schlemmer for a genuine 7 foot tall Robby the Robot.

I sleep upstairs, so having a Robot that CANNOT climb stairs, is a plus.

 

[TheWorldNewsOrg]

A Pennsylvania man and general manager of a Kmart made an emotional announcement at the final closing of the retail store. pic.twitter.com/ktPRCB3bIM

— Circa (@Circa) October 19, 2018

via .ORG

World News

[TheWorldNewsOrg]

Sears directors hire bank to scrutinize Lampert deals https://t.co/WfYjZ9ZJmJ pic.twitter.com/QyQLlr6bw4

— New York Post (@nypost) October 28, 2018

via .ORG

World News

[admin]

Sears chairman Eddie Lampert's hedge fund, ESL Investments, offered to buy the rest of the bankrupt company in a deal valued at $4.6 billion.

 What is up with this guy?

 

[James Thomas Rook Jr.]

2 hours ago, admin said:

Sears chairman Eddie Lampert's hedge fund, ESL Investments, offered to buy the rest of the bankrupt company in a deal valued at $4.6 billion.

 What is up with this guy?

Without doing any research at all ... my best guess is that he intends to act as a "Corporate Raider", and take a business where the parts salvaged are worth more than the whole.  I seem to remember that Sears is the parent company of "Discover" Credit Card, and for some time, Sears has made more money off of their Sears credit card fees than their retail sales.

etc.

 etc.

 

[admin]

@James Thomas Rook Jr.  I think you nailed it a couple month ago......

I read this headline today....

• Sears (+32.46%) Chairman Eddie Lampert won approval from a bankruptcy judge to buy out the struggling retailer for $5.2 billion. Liquidation averted.