Lets see how accurately we can predict things
11 replies (most recent on top)
November 10, 2017 at 3:15pm EDT
88 days
october 2018 to be exact they will go under- why because at that date they have to repay $2 billion in loans- in the meantime they will have burnt through $1.5 billion in free cash to get to ocotber 2018 and with only $4 billion in assets - thats the end.
Finding out all Sears/Kmart locations is easy. Finding out whether Sears owns each of those locations is more challenging.
Oh no trust me havent got a clue. I too listen and ask questions. How can you not know the locations of the stores if you too are an associate? I really hope this is only associates and not media trying to stir the pot and upset hard working people. That would be a horrible thing for someone to do.
uwq. We have some idea. This is a public company with a 10K. What we don't really know is the value of the real estate because we don't know their locations. We can guess at the true value of inventory, Kenmore, Diehard, SYW, etc. You seem to know a little more. Can you shed some light?
This is interesting. Does anyone really understand what they are saying in their posts about this. We have no idea what pools of money can be tapped into.
I read something about the lenders attorneys were talking with Eddie. I think they are probably going to be the ones that end this game. They will be able to go through the books and see he doesn't have much money. So they can pretty much play hard ball and say "Give us $.50 cents on the dollar now, or we're going to force you to declare bankruptcy. At that point Eddie's game would be done. He's running out of options.
SHLD has less than 190 unencumbered stores. Fraudulent conveyance is four years in Delaware i.e. the place of incorporation, and four years in Illinois the place of business. With a debt load of 4 billion, a good chunk of that due in 2018 and beyond, I personally can't see it making it to October. The longer Eddie waits to declare BK, the more likelihood it will be chapter 7 and not chapter 11.
The number of unencumbered stores is deceptive because Sears has over $1 billion in unsecured debt. The creditors have hired lawyers for the next debt negotiation. Anyone know when that is?
It's hard to say. Since we don't know what Eddie is going to do. They still have 206 stores left to sell and Kenmore and Die Hard. So they can unload Kenmore for $750 million and that would carry them through the summer.