The sources cautioned that negotiations between Sears, Lampert and other potential sources of bankruptcy financing remained fluid and might not result in a deal. Sears filed for bankruptcy protection in White Plains, New York on Oct. 15 with a plan to close about 142 of its 700 stores by year-end and sell up to 400 of its best-performing stores in an auction in January to a buyer that will keep them operational.
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@nis I agree..
A lot of interesting reading in the bankruptcy documents
When they filed, it was also requested to be allowed to sell portions of Sears Holdings. It was approved to allow them to review and decide on what they need to sell to do a restructuring plan, and then allow a certain amount of time to accept bids. If the top bid is approved by the judge then it’s sold. They are supposed to have a full restructuring plan filed with the court around with November 15th or December 15th. I can’t remember which currently as they keep throwing dates out about this that or the other. I think the real plan is to sell off the divisions that they can and then go into liquidation.