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Mr. Caicco noted that Sears Canada has monetized a number of its best assets and now only has five or six primary properties left with low-cost leases.
“The most likely buyer would be a consortium of private equity, real estate and asset management companies that could quickly liquidate and flip another 20 or 30 properties, downsize the retail infrastructure, and operate the remaining Sears chain as a suburban/rural mass merchant with a thriving online business,†the analyst said in a recent report.
It was in the Financial Post, appropriately titled "What's left of Sears Canada?"
What's Left of Sears Canada?
Interesting quote:
I think I have commented on this before: Bummer.
The Sears house brand tended to offer the best. In 1991, I bought a icemaker fridge that chugged on, without a single fail, until our kitchen reno in 2011. In 1993, a Kenmore dishwasher. Same deal.
In 2012, when we bought the condo and redid the kitchen, we tried a few other places but ended up at Sears where we bought five top quality appliances from a very helpful and informed salesman and earned so many points we were able to get a Dyson Animal free. I can put the filthiest pan in the dishwasher and it comes out sparkling clean.
I still have points. What will become of them?
I personally like the Amazon play, this way they acquire much needed product fulfillment centres. Since most of the spaces are leased, they can downsize if necessary and operate their centres accordingly across the country.
Well said.
There was an interesting article yesterday analyzing what was left of Sears Canada's assets, and who would likely buy the chain. I'll try to find it.
http://nypost.com/2014/08/04/sycamore-offers-new-hope-for-sears-canadian-stores/
Sycamore offers new hope for Sears' Canadian stores
I knew things were bad, just didn't realize that things were that bad.