Hi Greg / Others,
Sears announced it is going to offer 200 to 300 stores for sale to a REIT to raise cash, and lease them back. Any insights on what this can signal for a company that uses this strategy?
My thoughts are unchanged after the announcement: they cannot survive with the current business model. They raise one-time cash, so what...now their ongoing expenses are higher. Assets are to be bought and held, like we do... not sold.
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