The Wall Street Journal November 24, Instead of door busters, shoppers find a mess; 'I came here for years and years and all of a sudden they're closing' The Sears store on Thanksgiving night looked as if it was hit by a storm.
Canadian Press December 17, Ten months after taking over, the company licensed by Sears to provide home installed products and service is in receivership.
About half of the affected employees - — work in Ontario and include sales associates, installation specialists, inspectors, managers and office assistants, among others. Customers who have made deposits with Sears Home Services for home installed products are being asked to call and leave a message to learn what will become of their money.
Sears Canada spokesman Vince Power said in an email that the company is working with PwC Canada, which is handling the receivership, to ensure that customers are looked after and that all Sears Home Services warranties are honoured. But the anticipated volume of revenue never approached the amounts represented and by late September SHS was experiencing significant liquidity issues, according to the affidavit by Clements.
In January, Sears Canada Inc. Sears kmart merger case study and Alaris Income Growth Fund are the only two secured creditors. The remaining 17 pages of unsecured creditors range from individuals to Bell Canada to roofing companies and the City of Ottawa. Former Sears CEO Mark Cohen, who is now a professor of marketing at Columbia Business School, said that when he left the company init was profitable across all divisions, including home services.
It prospered at Sears in no small measure because of the leverage from reputation and a large parent company," said Cohen. CPS will move next year from S. Clark, where it has been sinceto the first three floors at 1 N.
Dearborn, CPS officials said. Sears Holdings declined repeatedly to comment on whether it is moving from 2 N. State -- which is in the same building -- or more broadly, about its future in downtown Chicago.
Spokesman Howard Riefs said in a statement: The Chicago Board of Education is anticipated to take up the move on Wednesday. Officials say moving will save tens of millions of dollars over time.
CPS officials have been looking at downsizing the central office since spring. The central office staff, which now has about 1, people, has shrunk over the years. The story building CPS now owns and occupies will go on the market in the coming weeks.
Tyrrell declined to say what it might be worth. CPS plans to be in the new space by November. Those costs include building operations and maintenance.
Tyrrell, the retired marine colonel who helped manage the school closings, said the district considered about other buildings to move its headquarters, including 52 empty school buildings.
That includes the former Wentworth Elementary School building, S. The building was emptied when Altgeld Elementary School was closed and Wentworth was moved into its building.
Location also was a consideration. That includes people who attend the monthly CPS board meetings. The new Board of Education chambers will be able to fit people -- more than twice as many as in the current building, Tyrrell said.
Sears has been at its State Street location since At the time, it was lured back to a revived State Street after an year absence. Sears, based in Hoffman Estates, has been cutting costs and inventory and shedding assets -- moves designed to help it return to profitability.
In MarchSears opened an e-commerce development center on the fourth floor of the property at 2 N. State, employing software developers, project managers and technical architects. But if the store does ultimately close, Stern said it would only be a "temporary hiccup" for State Street that could be easily overcome by retaining ground-floor retail.
There is "opportunity for more store closures. The company considers 17 of those to be in urban markets and the rest in mid-sized markets, Vincent Power, a spokesman for Sears Canada, said in an email. Sears also has a network of smaller Hometown franchises in rural or small markets. Retailers like Sears have found themselves under pressure in Canada amid an influx of new competition from the U.Here's the Latest Sign Sears' "Survival Move" Only Helped Seal Its Fate By Daniel B.
Kline The Motley Fool September 1, Executive Summary. Reprint: RC. Executives have developed tunnel vision in their pursuit of shareholder value, focusing on short-term performance at the expense of investing in long-term growth.
Lampert seeks partner for Sears bankruptcy financing By Yoel Minkoff Seeking Alpha October 22, Sears Chairman Eddie Lampert is in talks with Cyrus Capital to contribute to a $M bankruptcy loan the U.S. retailer is seeking, which would be separate from another $M bankruptcy loan that Sears' banks have offered to provide, Reuters reports.
To top managers at Levi Strauss, revamping the information technology system seemed like a good idea. The company had come a long way since its founding in the 19th century by a German-born dry.
Sears Home Services provider in receivership By Francine Kopun Canadian Press December 17, Ten months after taking over, the company licensed by Sears to provide home installed products and service is in receivership. With lessons learned from extensive research into major bankruptcies between and , including Enron, Conseco, Texaco, Kmart, and Refco, authors Carroll and Mui set out to help corporate management avoid failure from bad strategies.