SHLD stock closed today at $9.40. Market Cap. is now at 988.13M.
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SHLD has cash coming in from Christmas sales (no matter how little that may be) but they have rent, taxes, pension coming in the next month. All that cash as effectively been spent. Vendors are bailing, someone on here said that DC has stopped shipping which means spring merchandise is cooked. Stores are in shambles, employees are pied, customers are pied. Do you think they will file for bk next week to stop the payments, stop any returns and just liquidate?
I looked it up yesterday and found out that the figure that I had quoted (which had come from google.com search result: shld stock) did not include the outstanding bonds that are yet to mature!
If a Spring event was triggered It wont cause a BK on its self but it does make it difficult as it takes those assets off the table. There are other events other than Mkt cap like any kind of BK filing , default of any debt 350 mill or more, not keeping up lease or pension payments . The most important factor is that a Spring event has no cure in the agreement. In other words once its triggered that's it there's no work around negotiation. All of the freak out on this particular Mrkt cap issue really does not matter their out of cash and a lot of payments are coming up.. BK will happen and the lawyers will fight it all out.
It did not close below 1 billion market cap. Very close however. It doesn't matter as the suppliers will end this before any action by the insurance agency can be effected. Scares the hell out of any KCD suitor .
Yea i don't really get that I've never seen a company bankrupted by PBGC. I think that a false yahoo msg board thing.
@KYxf9xq-yro These stats are current as of 4:30pm EST. You can see the latest stats on google by typing in the words 'SHLD stock'.
its PBGC and your info on market cap is incorrect - learn how to read an SEC filing