The main problem facing Sears as of right now is their inability to sell product which is causing their stores to be shut down nationwide at an alarming rate. Their current credit rating as well as other market conditions have made it very difficult for Sears to stay afloat.
Sears Chairman Eddie Lampert began discussions with the investment group Cyrus Capital hoping for additional financing. Sears then won a court approval for 350 million dollars from the investment group that will keep Sears operating while they continue to search for a solution.
Other problems facing Sears is their employee satisfaction. Since the company declared bankruptcy, employees, at the retail level, have been more and more concerned as to what will become of them. Many of their concerns lie on the basis of their severance packages. These employees now claim that they are skeptical as to whether or not they will receive their packages.
Although Sears has several bright spots such as their home services and their real-estate, leadership must focus on keeping their employees motivated while continuing to garner financial assistance from outside vendors.
“Senior Management Team.” Sears Holdings Corporation, searsholdings.com/invest/corporate-governance/senior-management-team.
Ruff, C. (2018, December 03). Sears employees push for severance pay. Retrieved from https://www.retaildive.com/news/sears-employees-push-for-severance-pay/543450/
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