Sears closing more stores as hundreds lose jobs at HQ

[Yo_Mama_Been_Loggin]

The lights are still on at Sears, but the hedge fund now calling the shots is conducting some business at the ailing retailer largely in the dark.

Sears' parent company -- dubbed Transform Holdco (or Transformco) and run by Eddie Lampert and his ESL Investments fund -- laid off about 250 employees last week at the company's headquarters in Hoffman Estates, Illinois. The layoffs were disclosed in an Aug. 29 notice with the Illinois Department of Commerce and Economic Opportunity.

In early August, Transformco said it would close 26 stores by October. Transformco, however, declined to comment on media reports that as many as 100 additional Sears and Kmart stores would close by year-end. Some of the closings have been posted online on sites including thelayoff.com.

"We're not providing a list of any of the more recent closings," Sears spokesman Larry Costello told CBS MoneyWatch. Instead, the company is responding to queries "at a local level," he added.

https://www.msn.com/en-us/money/companies/sears-closing-more-stores-as-hundreds-lose-jobs-at-hq/ar-AAGRe7v?li=BBnbfcN

Vulture capitalism

[Sinistrous]

1. This morning, our local paper announced that

our local K-Mart will be closing before the end of the year. Damn.

[lordsummerisle]

2. I miss the K-Mart that was in my area n/t

[durablend]

3. Everyone is thinking

That it's very likely Kmart will disappear entirely after the holidays. He might drag Sears along a little longer but it too will disappear soon enough.