Liquidating shipping containers of merchandise
The problem, of course, is that raising capital via one-time asset sales does not change the company's fundamental issue -- it does not have enough customers.Sears Holdings, as it currently stands, still has assets and it can forestall its death, but that end still seems to be just a question of time.Riefs said store associates that are eligible will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores.Sears stores, which serve a variety of products including clothing, home appliances, tools and equipment, are struggling across the country, with total revenue for Sears Holdings falling 13 percent to .03 billion since the third quarter of last year, according to the company’s most recent financial report. Sears Holdings also has significant debts including an unfunded pension and post-retirement obligation of .1 billion.That never materialized, which suggests that either the offers were not high enough or none were made.Still, it's likely that Sears could sell off those brands and raise the money it needs to keep going, at least in the short term.The company has staved off death by borrowing money, but how long can that last? 28 at .18 and rallied on the news of the new line of available borrowing to close the next day at , a 10% gain. The company posted a loss of 8 million in its fiscal third quarter this year, up from a 4 million loss in Q3 2015.
CEO Eddie Lampert, whose hedge fund loaned the company 0 million in August, has pushed the idea that the company can stabilize by closing unprofitable stores and focusing on its Shop Your Way digital platform.Lampert has insisted that closing stores and building out Shop Your Way offers his company a future, but nothing in Sears' financials suggest that to be true.Daniel Kline has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. has received another lifeline courtesy of CEO Eddie Lampert."It's so sad," Romero said, looking across the deserted aisles at a Burbank store.The year's end inspires holiday-shopping nostalgia for its loyal customers, but it brings mostly gloom for once-mighty Sears, including an adjusted loss of 3 million for the third quarter that landed as Black Friday sales were being tallied.