Looks like we will be going private after all.
What’s the insurance business?
https://www.bloomberg.com/news/articles/2017-12-07/sears-gains-after-investor-asks-chain-to-consider-going-private
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There were calls for Sears Canada to go private right before BK also. The investor is pissed his shares are worthless and wants a buy out before he has to dump them for nothing.
Going private is not going to help Sears in the long run, it is more of a sign of them wanting to save more money.
No chance ;no one will invite in this but Eddie. Creditors recently turned down a request to extend loans and change terms. Lenders are now squeezing Eddie. Someone wants some assets? They will buy them at discount in BK and avoid all the lingering liabilities
I thought it was only a strong recommendation. Momento isn't going to finance it? Stock price did climb today though.
Actually, going Private is usually an excellent sign.
I hope Memento can afford to pay off all of Sears' debt. Or are they going to do what Eddie did in 2002?
Going private is usually not a good sign