https://www.msn.com/en-ca/news/other/sears-canada-granted-approval-to-liquidate/ar-AAtomfP
Are the USA stores next? The auto center at the Westfield Mall near me closed a few weeks ago just out of the blue. Main stores seems busy though.
Sears/K-Mart has been circling the drain for years. There used to be 3 K-Marts and 2 large Sears stores in my city. We only have one Sears now. Shelves are nearly empty. No lines at the checkouts. When I needed a new refrigerator earlier this year, I immediately disregarded Kenmore because who knows if I could get parts or warranty service down the line. I think it is just a matter of time.
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[quote=“storm, post:2, topic:1766, full:true”]
When I needed a new refrigerator earlier this year, I immediately disregarded Kenmore because who knows if I could get parts or warranty service down the line. [/quote]
Kenmore is just a re-branded Whirlpool, GE or Frigidaire. Parts no problem and assume warranty service would be addressed in the bankruptcy.
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Eddie has done a great job keeping Sears/Kmart open longer than just about anyone expected. He has prolonged the duration of tens of thousands of jobs.
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They’re doing a good job of orderly selling off the valuable real estate to maximize the value. They have lots of prime real estate in their store locations which they’ve been selling off bit by bit while kicking bankruptcy down the road.
But it will end eventually when all the good real estate is sold and they sell of the valuable brand names.
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He took a company that was solvent and made it insolvent. I’m not sure of his angle to keep it open this long (he probably can justify and or hide siphoning off the real estate to another company he controls). But by no measure has Lampert done a good job with Sears.
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