Eddie Lampert has been lending $SHLD lots of money, secured by some of its best real estate. The game is winding down now and Eddie will end up owning a lot of pristine properties, for Sears is warning on their ability to exist this morning, as presently situated.
“Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” the Hoffman Estates, Illinois-based company said in the filing Tuesday. But the company added that its comeback plan may help alleviate the concerns, “satisfying our estimated liquidity needs 12 months from the issuance of the financial statements.
Sears-Kmart is symbolic of old dinosaur retail being displaced by changing trends, and Amazon. Their quarterlies have been shit for years. I’m bemused by anyone who dares to own this stock past settlement date.
The interesting dilemma in all this isn’t whether Sears will shut down — because they will. But what will replace their square footage at your local mall?
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Marijuana dispensaries will take the space.
Vertical farming. I’m convinced there’s money to be made there. The variables are infinite. Why pay Costco prices for fruit when you can visit the sears converted vertical fruit farm and get gallons of fruit at a fraction of the price.
Russians will move in with vodka & potato outlets.
Tear it down, plant trees.
Talk about slow death on this one. Of course it takes time to allocate the senior debt so it falls the correct way upon bankruptcy. All the arrangements must be completed now. The employees and the common shareholders time to say goodbye. The bondholders will now get the company.
Sears has been an organ harvest for Eddie. Instead of declaring BK years ago and liquidating so the shareholders get something, Mr. Eddie slowly stole all of Sears’ assets and will simply pitch the dead carcass to the side.
typically malls are located in important traffic intersections. Turning the mall footprint into a condo tower makes sense…….I have seen that taking place in my area
Quite possibly the pension arrangement will find itself underfunded, screwing a bunch of senior citizens along with current employees and shareholders.
Nearby a Sears warehouse outlet is closing mid April. It was the largest tenant in that mall.
Nothing more than a penny stock shell. Eddie looted / gutted the pig. Fuckin blowhard.