My guess is by Nov or Dec they will declare chpt 7. The 142 stored will have the DC merchandise emptied into them the remaining stores will announce liquidation around Dec . Sorry abt the ppl heavily dependent on this job but I am sure you will be very happy and relieved in your next. Eddie has been extremely shrewd in choosing the month for BK.
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7 is looming- look at brick and mortar--to late, they have been in thier own form of 11 for years..PS you all give Eddie way to much credit on his "shrewd moves". The guy is a real mo--n-just with money.
My guess:
11/15/18 the next batch of stores that are listed as “ designated” in the ch11 documents , will be announced as closing.. not sure if the store count in this list, but in the bankruptcy documents, all 307 pages, there are lists of the stores in each category
I don’t think they will wait to see what Christmas sales will be before closing them and announcing ch7
Why is Eddie waiting so long to loan company the additional $300 million if he really truly believed the company will come out of bankruptcy.. if it’s agreed that he can buy kenmore brand, it’s game over
Sad
Sears India serves Sears Holdings only. Without the parent company there's no need for them.
Does Sears India have any other customers besides Sears? Will the company survive and some employees get to keep their jobs?
Why do you even have to ask? Debts outweigh assets by a long shot. Payments are coming due. Chapter 11 is merely the dog and pony show designed to liquidate merchandise and assets that much quicker. Anyone who thinks otherwise hasn't been paying attention for the past 14 years.
Hmmm.............. Chapter 11 or Chapter 7; such a difficult choice (???).
Approx $2-4 Billion in secured claims.
...Their biggest unsecured claim; BNY Mellon is for $2.3 Billion
,,,,,,It is early in the claims process; but already over $1 Billion of unsecured claims have been filed to the court
Chapter 7 very soon. Couple weeks or whenever the creditors force it.
What is Sears annual revenue? Isn't it still measured in the Billions? There is a sustainable size for this company, and the Ch 11 will help them find it.
The company will dive head first into Chapter 7. Too much debt and very little assets
This ship has hit an iceberg no way it won't break and sink. The ship has already been plundered just a little bit of Chinaware remaining before Eddie wraps a shawl around his head and escapes in a ladies and children (sears employees) only life boat.
Customers don’t feel confident in the brand anymore on home services side. They are keeping the techs busy with getting their stuff fixed before a chapter 7 is done and they lose their warranties.
I am thinking it will go Chapter 7......Money burn is too high and consumer confidence in Sears is low and getting lower.....I just do not see a turnaround coming.