What's more realistic? Frankly, I don't see a third option.
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Just like what is happening with Sears, the Higher ups are taking the company for every last penny and what ever else isn't nailed down before they decide they have made enough money.
*fool. sorry auto correct :)
chapter 11 is more reasonable. you'd have to be a full to want to buy this steaming pile
Although somebody might: https://seekingalpha.com/article/4171982-can-advance-auto-parts-turn-around