Sears not dead yet, Lampert wins bankruptcy auction with $5.2 billion bid


#1

Originally published at: https://boingboing.net/2019/01/17/sears-not-dead-yet-lampert-wi.html


#2

I don’t know about this, in the long run these kind of stores are all doomed. Seen it happen many times before, there’s always rescue plans similar to this but I haven’t seen one work out. Not sure what he’s trying to do here, unless there’s a benefit I don’t see.


#3

I don’t know enough about Sears to know if this is ultimately a good thing, but if it means folk get to keep their jobs, then I’m leaning towards good.

Is pretty different from the short run. I’m not saying you’re wrong, but that it probably doesn’t matter if you live paycheck to paycheck at one of these stores anyway.


#4

Seems weird to run a company into the ground and then buy it at auction, right?


#5

Aw man, that’s just cruel. You’ve strangled the puppy for long enough Eddie, just let it die.

Seriously though, if Lampert does somehow manage to save any jobs at Sears (laughably unlikely, just look at how the Sears Canada fiasco played out), everyone involved needs to jump ship now. There will be no return to the glory days, and everyone from warehouse employees to executives will end up poorer for it. Just run.


#6

Obligs, just because I like the song:


#7

Now that he’s attached, pull him off fast or slow?


#8

A few more years of fabulous executive salaries and bonuses? I guess the $5.2B is Other Peoples’ Money.


#9

If Sears is dissolved, all its assets will be sold, including the name “Sears”, which the new owner can stick to some other stores (or anything else). So, in a sense, Sears may well carry on far into the future, regardless of the fate of this particular business.

On the other hand, Sears is, in a(nother) very real sense, long dead.


#10

It may be dead, but I don’t know if the branding alone is worth $5.2 billion. I think this guy’s plan for Sears goes beyond throwing the logo on things. However I do have a hard time seeing how it will ever be again be a major retailer.


closed #11

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