Sears Holdings
For about ten years now, Sears Holdings has been struggling to stay afloat. With declining sales, the company tried to counter by resorting to cost-cutting, asset sales, store closings, and employee layoffs. Unfortunately, RetailDive said these measures are not enough to keep its head above water. In October 2018, the company filed for Chapter 11 and shut down 142 stores. Eddie Lampert, the CEO, tried to avoid this by taking out hundreds of millions in loans from the hedge fund he owns. Things have not looked up, however.
Sears Holdings
99 Cents Only
99 Cents Only is a discount product company that has been facing difficulties after suffering from competitors such as Dollar Tree, Walmart, and Dollar General. It actually reported having lost a net total of $27.1 million in December 2017. This is on top of an $8.8 million loss in Q1 and a $33.6 million loss in Q2. The 35-year-old retailer has tried various things to improve the situation. Ares Management bought it out then Canada Pension Plan, then a private family. Jack Sinclair even replaced former CEO Geoffrey Covert. While it reported positive same-store sales, it could afford to do even better.
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