Sears Canada Inc SRSCQ

The down spiral begins

[88guy88]

now that customers know that the stock is near bankruptcy....nobody will want to buy large applicances or other big ticket items....no warranty....plus the staff that are still there see the writing on the wall and will be looking for other employment and jumping ship.....its just a slow decline

[gashole]

You hit the nail on the head !! I wanted to buy a mattress, and my wife and I went in and I told her lets go to sleep country because Sears was going under and we wouldnt have any warranty. So we bought at sleep country and it made me think a bit... so I bought 1000 shares of sleep country when I got home !! 

[Tato111]

lol, nice. good forward thinking. All though with your plan on heading to Sleep Country. I would be more intrigued to go to Sears for the 40% off or what ever may be and risk the chance of warranty to get a better deal.

[las5513]

Today's announcement is a clear indication it's game over for Sears Canada.

[biggerr]

could it be like AC back in early 2000's when they also were in a similar situation and look where they are now, those who bought their stock then are millionaires if they kept it

[InternalAudit68]

This post has been removed in accordance with Community Policy

[extremerisk]

New shares will be issued. Stock is trading on nasdaq but that is short covering. Last time I checked sears Canada had a million shares short. Not sure of current position. CCAA is intended to wipe out debt for fresh start. Biggest risk is pension holders who will likely need to take hair cut as that is one of the biggest liabilities at close to $300 million. Too bad. Same happened to Mrtel

[JonathanJSmith]

I owned Air Canada at that time. Our stock went to ZERO. The company issued new shares and completely wiped out existing holders. Sears will be the same.  A company does not file for bankruptcy if it can repay its debt. Create new shares, get new investment money and start from a better position - that's Sears' current agenda. Lather, rinse, repeat; it's all too familiar. However