Can You Think Of An Example Of A Retailer That Was Successfully Turned Around?

As Sears' prospects began to fade, investors were increasingly eyeing its real estate, and Sears decided to take advantage of the tax-advantaged spin off of around 200 properties into a REIT that began trading as Seritage Growth Properties (SRG).

Summary

  • "I don't think any retailer should aspire to have its real estate be worth more than its operating business." - Eddie Lampert.
  • The clock is ticking and I give Sears credit for extending the prospects for bankruptcy.
  • However, the company is still burning through cash and the odds of survival (without entering bankruptcy) is at an all-time low.
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