Personally, I think that point of dignity passed many years ago. I've stated repeatedly that if Fast Eddie wants to blow his money on a lost cause it's his prerogative. And besides, I'd argue that an orderly winding down of the business is healthier for the economy than a massive liquidation.
https://www.bloomberg.com/view/articles/2016-12-09/sears-deserves-to-die-with-dignity
I respectfully disagree. Call all the suppliers and cancel all shipments to all Sears and KMART locations. Inventory the merchandise that's left. Then call in the close-out chains to buy the merchandise - Big Lots, Ocean State Job Lot, Ollie's Basement, etc. Then that will be the end of SHC. The only problem is these close-out chains don't sell appliances, so I don't know what would happen with that type of merchandise.
I have never seen a retail chain "wind down" their business in an orderly fashion, and I doubt I ever will.
My personal experience in dealing with senior executives in retail has been that they are extraordinarily delusional people. Because they are the smartest guys in the room, they are confident that they can pull things out of the fire, even if every spreadsheet on every desk in the HQ is saying they can't. They don't care who they hurt or how much glass they break, so long as they can collect just ONE MORE quarterly bonus.
"But....but.....but.....but.......the Moon could align with Jupiter and Mercury in a precise way, and some major scandal involving Walmart could break that would give us an absolute KILLER Christmas! Then we could move on and start growing or perhaps even dominate again."
I assure you, some conversation like that is taking place inside a paneled boardroom even as we speak.
One of my former employers, David Weis Co., was actually forced into an INVOLUNTARY Chapter 7 by their creditors. This is extremely rare in the history of American business. Only when all of the vendors agree that they are about to be triply screwed-over do they get together and put the delusions to an end.
Quote from: Marc B on December 15, 2016, 08:41:27 AM
The only problem is these close-out chains don't sell appliances, so I don't know what would happen with that type of merchandise.
Maybe they could move the shipment of appliances to local furniture/appliance stores for them to sell at low bargain basement prices.
Quote from: Marc B on December 15, 2016, 08:41:27 AM
I respectfully disagree. Call all the suppliers and cancel all shipments to all Sears and KMART locations. Inventory the merchandise that's left. Then call in the close-out chains to buy the merchandise - Big Lots, Ocean State Job Lot, Ollie's Basement, etc. Then that will be the end of SHC. The only problem is these close-out chains don't sell appliances, so I don't know what would happen with that type of merchandise.
True that they usually don't carry those items, but Big Lots has furniture and it wouldn't be a surprise if one (or more) would take them, if the deal was right (and then there is Marden's up in Maine, who might be even more likely to take something if they got a deal on it...).
Quote from: Marc B on December 15, 2016, 08:41:27 AM
I respectfully disagree. Call all the suppliers and cancel all shipments to all Sears and KMART locations. Inventory the merchandise that's left. Then call in the close-out chains to buy the merchandise - Big Lots, Ocean State Job Lot, Ollie's Basement, etc. Then that will be the end of SHC. The only problem is these close-out chains don't sell appliances, so I don't know what would happen with that type of merchandise.
Some close-out chains do, Marden's in Maine has appliances. They'll take some!