Is Sears closing both it's Kelowna Stores?

[forumdoug]

It was Lee

Not bad then. :)

Cheers,
Doug

[forumdoug]

You've got to remember that the liquidators are incentivized not to discount everything 50% or more at the start as Sears takes something like 86-90% of the "take" up to what their cost of inventory is. After that, the liquidators and Sears split the profits 50/50.

Waiting till the end isn't the answer either as stuff gets picked over. The best deals, I'd expect, will be in about 4-5 weeks from now. :)

Cheers,
Doug

[Urban Cowboy]

The best deals, I'd expect, will be in about 4-5 weeks from now. :)

Cheers,
Doug

That may be, but with the stock crap already, I can't see it being any better several weeks down the road.

[Bsuds]

We thought we would have a look today but couldn't get any parking so said fudgeit and left.

[forumdoug]

That may be, but with the stock crap already, I can't see it being any better several weeks down the road.

I'm waiting a few weeks to see if the brand name underwear and socks have been dramatically marked down! :)

Cheers,
Doug

[forumdoug]

We thought we would have a look today but couldn't get any parking so said fudgeit and left.

Take public transit...except, not on a Sunday or statutory holiday, because it totally sucks. Also, don't go in the evening any day of the week if you're travelling from West Kelowna. ;)

Cheers,
Doug

[Bsuds]

We thought we would have a look today but couldn't get any parking so said fudgeit and left.

Take public transit..

Your Kidding right? Just to go to Sears?

I'd rather poke myself in the eye with a stick.

[Noisy Boater]

Took an aimless wander through there today . Most of the stuff is only 10 -20% off so no big deal. I have to laugh at the ME FIRSTERS waiting for the doors to open so they can race in to get huge savings LOL. Reminds me of years ago watching the cat fights over the cabbage patch dolls. Idiots.

[Urban Cowboy]

Took an aimless wander through there today . Most of the stuff is only 10 -20% off so no big deal. I have to laugh at the ME FIRSTERS waiting for the doors to open so they can race in to get huge savings LOL. Reminds me of years ago watching the cat fights over the cabbage patch dolls. Idiots.

The kind of discounts they offered pretty much under normal conditions before going belly up.

[Faraday]

Went yesterday and it is very deceiving. They have racks that say 50% off but in very small print says up. The lady at the cashier told me nothing is 50% off until the liquidators say so. The are no longer Sears employees but work for them now

[Dizzy1]

Went in yesterday - found a few nice jeans for $20. They had some nice dress coats as well for a good price, nothing in my size though. As far as new luggage, it was highly overpriced and they had nothing decent. Oh well, saved on some jeans and had some poutine after words - no complaints

[forumdoug]

Went yesterday and it is very deceiving. They have racks that say 50% off but in very small print says up. The lady at the cashier told me nothing is 50% off until the liquidators say so. The are no longer Sears employees but work for them now

I don't believe that's quite correct. They remain Sears Canada employees, paid out of company funds administered by the Monitor, FTI Consulting, but you're correct in that they are now managed by and report to on a direct and functional basis to the liquidation group.

Cheers,
Doug

[forumdoug]

If the Court has ordered that 83% of the cost of inventory must be recovered, what happens if, in trying to achieve that threshold, Sears ends up with unsold inventory at the conclusion of the liquidation sales? Will the Court lower the cost recovery threshold or will it get sold en masse to a buying group at a lower threshold?

Cheers,
Doug

[Urban Cowboy]

Looks like good cause to avoid Sears liquidation sale............. http://www.cbc.ca/news/sears-canada-liq ... -1.4373270

I'm fairly certain we have laws against such unscrupulous dealings.

[forumdoug]

Looks like good cause to avoid Sears liquidation sale............. http://www.cbc.ca/news/sears-canada-liq ... -1.4373270

I'm fairly certain we have laws against such unscrupulous dealings.

She's surprised by that!? Ha!

The item may have been on sale prior to the liquidators taking over. You can't restrict a company's ability to change prices.

Even if you could, in this case, what recourse do we have? You could try suing. Even if you were granted standing as to the fact that you may have a potential claim, you would rank at or below that of common stockholders. Since they will end up with nothing, you'd get a big fat nothing as well.

Instead of mouthing off to the media, she should've just waited and watched for the prices to go down again. The staff can't change the prices without the liquidators' approval.

Cheers,
Doug