But it has struggled with the debt load associated with that leveraged buyout a decade ago. "Someone who wants to shop in a brick-and-mortar store and try on the baseball glove, or get the feel of a golf club, wants a better shopping experience," said Larry Perkins, of Sierra Constellation Partners, an expert in retail reorganizations.
Still, there was some hope that it might find a buyer who would keep the chain running.
The other 670 billion are held in EUR and US debt securities.
Thus far this has been a huge, stunning, almost unimaginable profit for the SNB and theoretically for the people of Switzerland.
However, the problem is that the SNB will have enormous difficulty in liquidating this massive portfolio, for once the news leaks out that the Bank is selling the bids will disappear; the CHf will soar in price while debt and equity markets melt away.
What the SNB has done here is stunning; some have even called it nearly “criminal” in nature.