The board is already looking for Johnson’s replacement. They are looking for a real turnaround person which means more cuts, but a different approach to marketing and merchandising. Bad news is bankruptcy filing is likely early next year unless there is a Christmas Miracle.
Who’s going to want the challege if Johnson’s out?....
And I cannot see how many more employees they can cut....I’ve watched part-time hours go to 4 and 8 hrs for the entire week for some. Not to mention the staff is already a skeleton.
You have to look closer than Christmas, in this respect. Vendors prepare ahead for the season..and are now lining up their wares for the store buyers...many are very timid now concerning the state of affairs, and some have pulled out already...( The coffee company earmarked for the stores backed out a week or so ago).....there’s allot of work to do even in sustaining the status quo, let alone another taking over....which could in itself crash the business altogether.
IMO Johnson has them over a barrel....danged if they do or don’t keep him.