GREY:SRSCQ - Post by User
Comment by
freckledon Sep 09, 2015 11:55am
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Post# 24089161
RE:ok
RE:okSelling real estate the past few years has kept Sears Canada solvent. They have not made a profit for the past few years. Sales drop 10% every year. Sears' demise has been long coming ever since Eddie Lambert bought Sears Holdings in the states. Sears Canada has been left with no direction other than being led by a seriers of CEO caretakers to act as an ATM dispenser whenever Eddie needed money. Sears Canada was cash rich 10 years ago. Now they are on their last legs. Once they are out of real estate to sell they will quietly close operations. The experts say within 2 years they will be gone.
The only CEO which really cared the past half decade was Calvin Macdonald. He did have a revitalized vision for the retailer. However, he spent too much money sprucing up the stores that head office in the states fired him. Anyone inside the company watching the history unfold knows that Sears will eventually be gone. It might take a couple more years before the cash runs out - but it is a foregone conclusion.