GREY:SRSCQ - Post by User
Comment by
Kuyawayneon Feb 01, 2016 6:31am
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Post# 24511440
RE:RE:loss of 53 million for quarter 3
RE:RE:loss of 53 million for quarter 3Well, sir, hindsight is 20/20. Stock plunged heavily early January. Truth of the matter is that they did try selling the company about 2 years ago. There were no offers to take over this sinking giant. Two years later and much of their most valuable real estate has been sold off to maintain cash flow. Cash is drying up quickly.
Eddie Lambert has used the Canada portion of Sears as a ATM machine. He is much too busy with Sears down in the states to worry about the Sears Canada segment anymore. This is no more value left in Sears Canada. The present Ceo's of the company are merely caretakers.
With the Canadian economy and the failed Target experiment it might be slim pickings to find a buyer. That's my prediction. I think it will be another 2 years of shutting stores and downsizing - the company has never intended to 'turn things around'.
Like I said, there is not much cash left on the books. The thing that allowed the company to stay afloat was a resilient cash balance - even after Eddie forced the company to give huge cash dividends. I give the company 2 years before it winds itself up in a very very quiet bankruptcy.
Oh, yeah - and it will be a penny stock by the end of 2016.