Cantor Fitzgerald provided a loan to Transform Co. in the amount of $250 million with the Collateral being the Leases on 60 stores. Now with the value of the Leases stripped away how long can Eddie keep Transform Co. afloat with the remaining unencumbered assets?
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Eddie has flown into the cuckoos nest
The race is on to sell all of Sears before JC Penney goes bankrupt. If JC Penney liquidates (probably early next year), incredibly, Eddie's plans somehow end up being even more worthless than the last $15 billion of losses or so, because mall real estate value will CRATER. Bet he didn't bold that in 48 pt Times New Roman in the presentation to Cantor Fitzgerald.