Sears

Retail Asia24/04/2019

Embattled US department-store icon Sears is about to open three new-format stores. Rescued from bankruptcy by its former chairman Eddie Lampert last month, the company closed a further 300-odd stores – those on top of the 1700 it has shuttered since April 2007. It has just 425 remaining now. But in its new trimmed-down guise, […]

Retail Asia13/02/2019

Sears Holdings chair Edward Lampert’s US$5.2 billion bid to save 425 Sears and Kmart stores and roughly 45,000 jobs from liquidation was approved by a US bankruptcy court judge last week. Lampert’s bid, which he made through his hedge fund ESL Investments Inc., was approved by Judge Robert Drain after a hearing spanning several days in […]

Retail Asia22/01/2019

Bankrupt US retailer Sears has been saved from liquidation following a successful, last-minute US$5.2 billion bid by chairman Eddie Lampert, subject to court approval. The acquisition includes substantially all of the company’s assets as an on-going concern and preserves the positions of 45,000 employees. “We are pleased to have reached a deal that would provide a […]

Retail Asia11/01/2019

Embattled US department store Sears has been granted yet another lifeline, with a bankruptcy auction now scheduled for January 14. That will give billionaire hedge fund operator Edward Lampert, Sears biggest shareholder and former CEO, one final opportunity to preserve the business. At Monday’s auction, he will bid against rival parties seeking to liquidate the […]

Retail Asia07/01/2019

Sears chairman Eddie Lampert’s last minute plans to save the bankrupt retail chain are set to be terminated on Friday afternoon, New York time, should they be determined to not be a “qualifying bid”. The first plan, a US$4.4 billion offer to purchase Sears, would provide ongoing positions for 50,000 employees and is the “best […]

Retail Asia03/01/2019

Bankrupt US retailer Sears has informed 80 further stores of impending closure, in addition to the 40 store closures already announced. The second batch of closures is expected to be finalised by late March 2019, with liquidation sales expected to begin in early January 2019. The closures have been made in an effort to accelerate […]

Retail Asia21/12/2018

Bankrupt U.S. retailer Sears has been hit with a charge of approximately US$443 million due to store closures. The charges relate to markdowns, severance costs and lease termination costs related to the business’ Chapter 11 bankruptcy, filed due to its inability to hit a debt payment deadline in October. The company said some of the charges, […]

Retail Asia25/10/2018

Sears, a U.S. retail titan that has filed for bankruptcy, owes a Vietnamese textile company upwards of $4 million. Sears Holdings filed for bankruptcy on October 15 after failing to make a $134 million debt payment tranche. Its subsidiaries, Sears, Roebuck and Kmart are partners of Vietnamese textile firm Thanh Cong, contributing about 7 percent […]

Retail Asia22/03/2018

Failing US president Donald Trump is facing widespread backlash from US retailers and brands over his intention to trigger a trade war with China and other nations. Just days after announcing tariffs on steel imports against the advice of officials, lawmakers and industry, Trump is now believed to be formulating sweeping tariffs on imported goods […]

Retail Asia09/01/2018

Struggling US department store chain Sears will close another 103 stores, as the retailer looks to “right size” the business. Part of its strategic assessment of productivity throughout its store portfolio, Sears said 64 Kmart stores and 39 Sears stores will close between early March and early April 2018. “As previously announced we will continue […]

Retail Asia04/12/2017

Dire, dismal, terrible, horrendous, grim, appalling – over the past few years we’ve used up our stock of adjectives to describe Sears results. As the descriptors run dry, so the bad numbers keep on coming. This quarter is no exception. It is particularly worrying that the strength of declines across all parts of the business […]

Tag: Sears

Sears Opens Multiple New Stores

Sears gets away from bankruptcy

Sears saved by chairman’s last minute $5.2 billion bid

Judge extends Sears lifeline to mid-January

Time is running out for Sears offer

Sears US to close further 80 stores by March

Sears to be fined US$443 million

Bankrupt US retail giant Sears owes Vietnamese firm $4 million

New USA tariff plan draws backlash from US retailers

Sears is closing 103 stores

Stagnate sales result for Sears