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View Poll Results: When Does Sears Close all stores and Liquidate
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Never
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4 |
13.79% |
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Q 1 2019
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1 |
3.45% |
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Q 2 2019
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7 |
24.14% |
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Q 3 2019
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6 |
20.69% |
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Q 4 2019
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3 |
10.34% |
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Q 2 2020
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3 |
10.34% |
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Q 4 2020
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2 |
6.90% |
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2021
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2 |
6.90% |
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2022
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1 |
3.45% |
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When does Sears close all stores - Poll
02-03-2019, 04:43 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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When does Sears close all stores - Poll
Vote Now
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02-03-2019, 04:56 PM
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#2
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,498
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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. 
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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02-04-2019, 05:33 PM
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#3
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,339
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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.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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02-04-2019, 05:35 PM
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#4
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,716
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My guess is the end of 2020.
__________________
*********Go Yankees!*********
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02-04-2019, 05:45 PM
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#5
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gone traveling
Join Date: Dec 2018
Posts: 1,196
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Need to start returning craftsman tools that have lifetime warranty and get new ones.
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02-04-2019, 05:47 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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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.
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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02-04-2019, 06:12 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2007
Posts: 13,227
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 Quote:
Originally Posted by Nick12
Need to start returning craftsman tools that have lifetime warranty and get new ones.
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Not necessarily. The older ones are probably built better and will still outlast the newer.
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02-04-2019, 06:37 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,886
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Quote:
Originally Posted by aja8888
My guess is the end of 2020.
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My guess is, all Sears stores will be closed before Tesla ships a $35,000 Model 3. 
-ERD50
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02-04-2019, 06:51 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by Nick12
Need to start returning craftsman tools that have lifetime warranty and get new ones.
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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/
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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02-04-2019, 07:11 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Location: Hog Mountian
Posts: 2,077
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Arbitrarily chose Q4, 2019.
But I picked up (at Sears) a nice $50 Outdoor Life jacket today for $22. 
__________________
Never let yesterday use up too much of today.
W. Rogers
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02-06-2019, 12:02 PM
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#11
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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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?
__________________
If you want others to be happy, practice compassion. If you want to be happy, practice compassion.
--Dalai Lama XIV
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02-06-2019, 12:25 PM
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#12
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Full time employment: Posting here.
Join Date: Feb 2017
Location: Severn
Posts: 947
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Quote:
Originally Posted by Nick12
Need to start returning craftsman tools that have lifetime warranty and get new ones.
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Stanley Black and Decker now owns the Craftsman name.
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02-06-2019, 12:28 PM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,886
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Quote:
Originally Posted by imoldernu
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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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.
-ERD50
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02-06-2019, 12:37 PM
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#14
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,698
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Quote:
Originally Posted by ERD50
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.
-ERD50 |
Definitely suing Sears. I believe the PBGC objects to the terms offered to “rescue” the bankruptcy, as they negate some of the $1.4B obligations agreed in the link you referenced.
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02-06-2019, 01:02 PM
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#15
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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sorry .. I equate Lampert with ESL, and see the $$$ as a loss to ESL.
__________________
If you want others to be happy, practice compassion. If you want to be happy, practice compassion.
--Dalai Lama XIV
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02-06-2019, 01:28 PM
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#16
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Moderator
Join Date: Nov 2014
Posts: 9,171
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Quote:
Originally Posted by timo2
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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Do you have an idea of how he’s profiting from this? I generally agree with your sentiment, but I can’t 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 can’t figure out what’s in this for him without it actually being successful.
__________________
Every day when I open my eyes now it feels like a Saturday - David Gray
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02-06-2019, 01:35 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by Jerry1
Do you have an idea of how he’s profiting from this? I generally agree with your sentiment, but I can’t 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 can’t figure out what’s in this for him without it actually being successful.
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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 Sears’ CEO, chairman, banker, landlord and transaction partner, Lampert has managed to transfer many of Sears’ 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 Lampert’s hedge fund. Sears has paid the fund an annual rent of $134m, with 2% annual increases starting in 2017. As Lampert’s 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 Sears’ profitable clothing company Land’s End to himself as the principal shareholder. In January 2017, Lampert finalized a deal to sell Sears’ Craftsman brand to Stanley Black & Decker for $900m, which was used to pay off Sears’ creditors, Lampert included."
https://www.theguardian.com/business...-eddie-lampert
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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02-06-2019, 01:35 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Dec 2017
Posts: 2,549
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Quote:
Originally Posted by timo2
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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After I saw how they killed CompUSA, I'm not surprised....except how gullible people were about Eddie's intentions!
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02-06-2019, 03:05 PM
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#19
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2007
Posts: 13,227
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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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02-06-2019, 03:31 PM
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#20
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Moderator
Join Date: Jul 2010
Posts: 7,939
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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.
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
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