SaysWho? Posted December 28, 2018 Share Posted December 28, 2018 https://www.nbcnews.com/business/business-news/sears-125-year-old-retail-icon-has-12-hours-survive-n952586 Quote The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole, people familiar with the situation told CNBC. Without that bid or another like it, liquidators will break the company up into pieces. But as Lampert stares down a deadline of Dec. 28 to submit his offer, he has neither submitted his bid, nor rounded up financing, said the people familiar with the situation. Should Lampert submit a bid, Sears’ advisors would have until Jan. 4 to decide whether he is a “qualified bidder.” Only then could ESL take part in an auction against liquidation bids on Jan. 14. Quote Link to comment Share on other sites More sharing options...
mclumber1 Posted December 28, 2018 Share Posted December 28, 2018 Once Kmart is gone, my small town will only have Fred Meyer (Kroger chain) and Coastal (farm and ranch store) to buy clothing. Both Fred Meyer and Coastal are expensive. And Kmart clothing was cheaply made and cheap in price. I guess I'll start shopping for clothes online, or driving an hour and a half to Portland. Quote Link to comment Share on other sites More sharing options...
Greatoneshere Posted December 28, 2018 Share Posted December 28, 2018 Very cool, very legal something something Quote Link to comment Share on other sites More sharing options...
Chairslinger Posted December 28, 2018 Share Posted December 28, 2018 This thread title sounds like the premise for a very boring Horror movie. 41 minutes ago, mclumber1 said: Once Kmart is gone, my small town will only have Fred Meyer (Kroger chain) and Coastal (farm and ranch store) to buy clothing. Both Fred Meyer and Coastal are expensive. And Kmart clothing was cheaply made and cheap in price. I guess I'll start shopping for clothes online, or driving an hour and a half to Portland. Shoes and socks are one of the things I am going to miss brick and mortar stores for. Most things I am not too picky about, and you usually find better deals online for anyway, but I have a hell of a time finding the right shoes. Can't imagine trying to find the right ones online. Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted December 31, 2018 Author Share Posted December 31, 2018 Sears/Kmart to close 80 stores in March and faces possible liquidation. One of the ones shutting down is the one at the Mall of America, meaning it is completely leaving Minnesota. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted December 31, 2018 Share Posted December 31, 2018 Let the feces of capitalism rain across America. Quote Link to comment Share on other sites More sharing options...
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