Sears accepts revised ESL bid to keep Sears operating

[retailisking]

Judge Drain hasn't signed off on the deal, and a number of parties are likely to continue to advocate for liquidation.
https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html

[deerwrecker2017]

Let's not be too quick to say that Sears will actually be saved due to the revised Lampert bid due to some known details.

1. - An auction to compare the revised offer by Lampert against the Liquidators is scheduled for next Monday (January 14) which could allow the Liquidators a chance to outbid Lampert.
2. - The revised Lampert bid will definitely be challenged (By business and people who Sears owes money to) if forgiveness of any of the Debt (Likely the debt owed to Lampert) is part of the offer.
3. - Under the revised bid Lampert needs to make a $120 Million Cash payment by 4:00 P.M. on Wednesday (If he fails to do so then his bid is rejected by default and Liquidation is a done deal).
4. - They are Creditors that will still push for Liquidation saying that it is the best way for repaying the greatest amount of money that it's owed to them.

We'll just find out what actually happens either this Wednesday or Next Monday for sure regarding the fate of Sears.

[danfifepsu]

Let's not be too quick to say that Sears will actually be saved due to the revised Lampert bid due to some known details.

1. - An auction to compare the revised offer by Lampert against the Liquidators is scheduled for next Monday (January 14) which could allow the Liquidators a chance to outbid Lampert.
2. - The revised Lampert bid will definitely be challenged (By business and people who Sears owes money to) if forgiveness of any of the Debt (Likely the debt owed to Lampert) is part of the offer.
3. - Under the revised bid Lampert needs to make a $120 Million Cash payment by 4:00 P.M. on Wednesday (If he fails to do so then his bid is rejected by default and Liquidation is a done deal).
4. - They are Creditors that will still push for Liquidation saying that it is the best way for repaying the greatest amount of money that it's owed to them.

We'll just find out what actually happens either this Wednesday or Next Monday for sure regarding the fate of Sears.

well due to how they have downsized and billions of losses with no way to stem them and stores in poor conditions I feel they may just cut their losses and move on. How is Eddie Lambert doing this of keeping 2 chains that are on life support.
20 yrs ago when Caldor announced they'd close, creditors disapproved of the reorganization plan and ordered them to liquidate.

[deerwrecker2017]

well due to how they have downsized and billions of losses with no way to stem them and stores in poor conditions I feel they may just cut their losses and move on. How is Eddie Lambert doing this of keeping 2 chains that are on life support.
20 yrs ago when Caldor announced they'd close, creditors disapproved of the reorganization plan and ordered them to liquidate.

I do think that Liquidation is the only suitable option for both Sears and Kmart since all that Lampert did is practically and effectively ran both them into the ground.

[AmesNewington]

Does Lampert realize that if he is successful in keeping the company operating, the 425 remaining stores need to be upgraded in appearance, technology, and also staffing and customer service training. He also has to make sure suppliers continue to provide the company with merchandise and that they will be able to pay them for it. If he thinks that Sears will continue in its current state, than even if he keeps the company alive, people will not shop there, and liquidation will happen down the road, sooner rather than later.

[deerwrecker2017]

Does Lampert realize that if he is successful in keeping the company operating, the 425 remaining stores need to be upgraded in appearance, technology, and also staffing and customer service training. He also has to make sure suppliers continue to provide the company with merchandise and that they will be able to pay them for it. If he thinks that Sears will continue in its current state, than even if he keeps the company alive, people will not shop there, and liquidation will happen down the road, sooner rather than later.

I truly think that Lampert does not play with a full deck in regards to operating a Retail chain.

[TheFugitive]

I truly think that Lampert does not play with a full deck in regards to operating a Retail chain.

Don't say that unless you have seen his bank account.  This whole thing could be a brilliant scam to hollow-out a major company while enriching himself.

[deerwrecker2017]

Don't say that unless you have seen his bank account.  This whole thing could be a brilliant scam to hollow-out a major company while enriching himself.

Lampert's business ESL Investments can get other sources of revenue not just Sears and Kmart. The problems regarding Sears current predicament actually go back several years and being put together with Kmart was a mistake.

Some of those problems affecting Sears.

1. - Failing to invest in both the stores and the technology used in them as Walmart, Target and even Home Depot have done so in those areas.
2. - Letting too many stores fall into disrepair.
3. - Failing to recognize the threats posed to them by competitors like Walmart and Amazon for example.
4. - Selling it's Credit Card business back in 2003 to Citigroup (A retired Sears employee told NBC News that).

[retailisking]

ESL has reportedly increased his bid for Sears to $5 billion
https://www.reuters.com/article/us-sears-bankruptcy-lampert-exclusive/exclusive-sears-chairman-submits-new-roughly-5-billion-bid-to-save-retailer-sources-idUSKCN1P32R7

[danfifepsu]

ESL has reportedly increased his bid for Sears to $5 billion
https://www.reuters.com/article/us-sears-bankruptcy-lampert-exclusive/exclusive-sears-chairman-submits-new-roughly-5-billion-bid-to-save-retailer-sources-idUSKCN1P32R7

Sears has more lives than a cat!

[TheFugitive]

1. - Failing to invest in both the stores and the technology used in them as Walmart, Target and even Home Depot have done so in those areas.

Until it closed a few months back the Sears closest to me was running
IBM 4683 register terminals.

I installed these terminals in an Ames store during a Zayre conversion
in Jacksonville, Florida...…...in 1989!