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Thread: SEARS going under..

  1. #1

    Default SEARS going under..

    Sears to close stores, lay off about 5,500 employees



    (Reuters) - Struggling retailer Sears Holdings Corp will lay off at least 5,457 employees and close over 100 stores, many before Christmas, according to a Seeking Alpha report citing liquidation notices and employees.


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  3. #2

    Default Re: SEARS going under..

    need to take my broken Craftsman tools back for replacement sooner than I thought.

    Thanks
    "Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798

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  5. #3

    Join Date
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    Default Re: SEARS going under..

    DAMN!



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  7. #4

    Default Re: SEARS going under..

    Sears Has Passed The Point Of No Return

    Sears is closing hundreds of stores around the country. Sears will probably not recover from its decades-long decline. "As a retailer they're at the point of no return," said David Tawil, cofounder of Maglan Capital and an expert in distressed retail companies. "The real question now is when does it all end?"
    Sears recently confirmed reports that it was planning to close more stores and lay off workers. The company, which has currently has 800 namesake stores and 1,100 Kmart stores, has lost $6 billion since 2012. Suppliers are growing concerned that they won't receive payments for merchandise.

    http://finance.yahoo.com/news/sears-...160310485.html

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  9. #5

    Default Re: SEARS going under..

    oh man, that sucks. those xmas catalogs taught me everything i know about life and love.
    100g

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  11. #6

    Default Re: SEARS going under..

    Quote Originally Posted by burrocrat View Post
    oh man, that sucks. those xmas catalogs taught me everything i know about life and love.
    life and love? I understand how you learned to love yourself with the pictures, but learned about life?

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  13. #7

    Join Date
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    Default

    Still the best place to park at the mall ;-)

    It is a shame, honestly, because you can usually get good deals there on lots of stuff. It's still one of the first places I look for appliances, tools, and tires

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  15. #8

    Default Re: SEARS going under..

    Quote Originally Posted by konakathy View Post
    life and love? I understand how you learned to love yourself with the pictures, but learned about life?
    kenmore = good appliances. also, being able to properly fit a bra is a valuable life skill. it's going to be my second career. i consider myself an expert at it, i can usually do it by sight now. which i'm sure the ladies are thankful for.
    100g

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  17. #9

    Default Re: SEARS going under..

    Again? Last time around the financial division saved them. Would hate to see them go under.


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  19. #10

    Join Date
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    Default Re: SEARS going under..

    Frankly, I'm surprised they've lasted this long, they are nowhere near being the retail giants they once were back in the 80s before Wallmart sucked the life out of them. There was a time when they were like the mafia, with those credit card rates of +20%. Back in the 90s I blacklisted them over a gift card and their refusal to give me the remaining 37 cents off a card, I actually had to ask for the manager to get that 37 cents back. From that day forward, I have not made a single purchase from them, never p!ss off the customer!

    Sears MasterCard® card — New Account
    As of 7/02/14, the APR for purchases and balance transfers is 25.24%, and the APR for cash advances is 27.15%. These APRs will vary with the market based on the Prime Rate. The Minimum Interest Charge is $2. The cash advance fee is 5% of each transaction; minimum $5. The balance transfer fee is 5% of each transaction, minimum $10. The transaction fee for foreign purchases is 3% of the U.S. dollar amount of each purchase made outside the U.S. See card agreement for details.

    Sears Card® — New Account
    As of 12/07/2012, the APR for purchases is 25.24% and the APR for cash advances is 27.15%. These APRs will vary with the market based on the Prime Rate. The Minimum Interest Charge is $2. The cash advance fee is 5% of each transaction; minimum $5. See card agreement for details.
    Retired, 55G/15C/15S/15I (Paper Trading)_ BLOG: Stats for March, Stats for Q1, 2024 Stats

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  21. #11

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    Given enough time, someone else will rise up and knock walmart into oblivion. It's the cycle of (business) life

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  23. #12

    Default Re: SEARS going under..

    Quote Originally Posted by MrBowl View Post
    Given enough time, someone else will rise up and knock walmart into oblivion. It's the cycle of (business) life
    Not as long as there are retirees who need jobs to make ends meet. And sad to say there are quite a few who need those greeter jobs.

    Most people need Walmart for the inexpensive cheap goods. I can't imagine another business offering cheaper goods at Walmarts scale. But like you say, life is a cycle.

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