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View Poll Results: When Does Sears Close all stores and Liquidate
Never 4 13.79%
Q 1 2019 1 3.45%
Q 2 2019 7 24.14%
Q 3 2019 6 20.69%
Q 4 2019 3 10.34%
Q 2 2020 3 10.34%
Q 4 2020 2 6.90%
2021 2 6.90%
2022 1 3.45%
Voters: 29. You may not vote on this poll

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When does Sears close all stores - Poll
Old 02-03-2019, 04:43 PM   #1
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When does Sears close all stores - Poll

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Old 02-03-2019, 04:56 PM   #2
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Well, I have NO clue - - didn't Google it. Our local Sears and K-mart are just about history (sad!) so I voted 2019 q2, but that is a wild uninformed guess.

Edited to add: I Googled it briefly and apparently there has been a takeover bid, so 425 stores might remain open indefinitely if approved. Unfortunately those 425 stores do not include the K-Mart and Sears closest to us, which are supposed to close in March and are having liquidation sales. Oh Well.
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Old 02-04-2019, 05:33 PM   #3
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I haven't the foggiest idea so just randomly picked Q3 2019. The Sears store closest to us closed several years ago and for a few years before that I wondered how they kept the lights on, let alone paid employees.

It is sad because for a long time they had quality merchandise for a reasonable price. I have lots of Craftsman tools bought back when they were good tools.
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Old 02-04-2019, 05:35 PM   #4
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My guess is the end of 2020.
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Old 02-04-2019, 05:45 PM   #5
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Need to start returning craftsman tools that have lifetime warranty and get new ones.
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Old 02-04-2019, 05:47 PM   #6
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It is just amazing how Eddie Lampert has almost single-handily scammed everyone to make himself more money. Jaw dropping actually. I've been following the Sears saga for quite a while, and it clearly is a scam run by Lampert for his own benefit.
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Old 02-04-2019, 06:12 PM   #7
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Need to start returning craftsman tools that have lifetime warranty and get new ones.
Not necessarily. The older ones are probably built better and will still outlast the newer.
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Old 02-04-2019, 06:37 PM   #8
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My guess is the end of 2020.
My guess is, all Sears stores will be closed before Tesla ships a $35,000 Model 3.

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Old 02-04-2019, 06:51 PM   #9
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Need to start returning craftsman tools that have lifetime warranty and get new ones.

Those old ones you have might be worth something. Apparently the newer craftsman are cr*p. Just an imperfectly worded internet search turned up a lot of negative comments on the newer ones. Here is one example. https://www.hobby-machinist.com/thre...s-today.64454/
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Old 02-04-2019, 07:11 PM   #10
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Arbitrarily chose Q4, 2019.

But I picked up (at Sears) a nice $50 Outdoor Life jacket today for $22.
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Old 02-06-2019, 12:02 PM   #11
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The PBGC is suing Lampert for 1.4 Billion... the amount of the shortage in the Sears Pension Fund. Who knows what this means?
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Old 02-06-2019, 12:25 PM   #12
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Need to start returning craftsman tools that have lifetime warranty and get new ones.
Stanley Black and Decker now owns the Craftsman name.
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Old 02-06-2019, 12:28 PM   #13
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The PBGC is suing Lampert for 1.4 Billion... the amount of the shortage in the Sears Pension Fund. Who knows what this means?
I found this:

https://www.retaildive.com/news/fede...nsions/547546/

Not clear they are suing Lampert, looks to me like they are suing Sears. Basically, looks like PBGC is saying that Sears did not fund the plan per a 2016 agreement?

PBGC has friends in high places, they carry a big club.

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Old 02-06-2019, 12:37 PM   #14
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I found this:

https://www.retaildive.com/news/fede...nsions/547546/

Not clear they are suing Lampert, looks to me like they are suing Sears. Basically, looks like PBGC is saying that Sears did not fund the plan per a 2016 agreement?

PBGC has friends in high places, they carry a big club.

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Definitely suing Sears. I believe the PBGC objects to the terms offered to ďrescueĒ the bankruptcy, as they negate some of the $1.4B obligations agreed in the link you referenced.
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Old 02-06-2019, 01:02 PM   #15
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sorry .. I equate Lampert with ESL, and see the $$$ as a loss to ESL.
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Old 02-06-2019, 01:28 PM   #16
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It is just amazing how Eddie Lampert has almost single-handily scammed everyone to make himself more money. Jaw dropping actually. I've been following the Sears saga for quite a while, and it clearly is a scam run by Lampert for his own benefit.
Do you have an idea of how heís profiting from this? I generally agree with your sentiment, but I canít see how he profiting. All I see is how he or his hedge fund are pouring billions of dollars into a lost cause. At a minimum, I think he took a great name and wasted it, but I canít figure out whatís in this for him without it actually being successful.
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Old 02-06-2019, 01:35 PM   #17
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Do you have an idea of how heís profiting from this? I generally agree with your sentiment, but I canít see how he profiting. All I see is how he or his hedge fund are pouring billions of dollars into a lost cause. At a minimum, I think he took a great name and wasted it, but I canít figure out whatís in this for him without it actually being successful.
The only article I could quickly find was one in the Guardian, maybe not the best choice, but the factual parts of the article correspond to what I have read previously, which in a nutshell, is Lampert has been robbing Sears blind.

from the article "As Searsí CEO, chairman, banker, landlord and transaction partner, Lampert has managed to transfer many of Searsí assets to himself and sell off others.

In 2015, he sold the real estate of more than 250 Sears retail stores and other company property to real estate investment fund, Seritage Properties, which is 43.5% owned by Lampertís hedge fund. Sears has paid the fund an annual rent of $134m, with 2% annual increases starting in 2017. As Lampertís hedge fund extended credit to Sears backed by at least 46 Sears properties, Lampert could receive the rights to those properties in the bankruptcy proceedings.

In 2014, Lampert sold off Searsí profitable clothing company Landís End to himself as the principal shareholder. In January 2017, Lampert finalized a deal to sell Searsí Craftsman brand to Stanley Black & Decker for $900m, which was used to pay off Searsí creditors, Lampert included."

https://www.theguardian.com/business...-eddie-lampert
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Old 02-06-2019, 01:35 PM   #18
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It is just amazing how Eddie Lampert has almost single-handily scammed everyone to make himself more money. Jaw dropping actually. I've been following the Sears saga for quite a while, and it clearly is a scam run by Lampert for his own benefit.
After I saw how they killed CompUSA, I'm not surprised....except how gullible people were about Eddie's intentions!
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Old 02-06-2019, 03:05 PM   #19
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That's what I understand. He's in it for the Sears real estate. He loans them money, gets it guaranteed with the hard real estate assets, and when Sears goes under he'll get the real estate, cheap. So I think he's actually more motivated to let Sears go under than have them succeed, but he doesn't lose either way.
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Old 02-06-2019, 03:31 PM   #20
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I didn't vote because my answer isn't there "Not soon enough"

To me it's a textbook example of greedy management running a good company into the ground.
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