Bills come due October 15

$134 million debt payment due October 15.

Excerpt from Q2 2018:

"The Company's total cash balances were $441 million at August 4, 2018, including restricted cash of $248 million which relates to amounts deposited in escrow for the benefit of our pension plans, compared to $336 million at February 3, 2018, which included restricted cash of $154 million."

So for simplicity's sake, let's say cash reserves are around what was reported a couple weeks ago ($441m). if $248m of that $441m is hands-off due to the pensions, and there is a $134m debt payment looming, that leaves just a paltry $59m in reserve, barring any significant sale of assets (i.e., Kenmore).

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They are burning 4.5 million dollars a day at minimum. The issue is they have drawn to much and payed back to little on there covenants triggering auto pay back rates.

What was reported a couple of weeks ago WAS NOT the cash reserves at the time the 10-Q was released. It was the reserves at the end of the quarter - that is as of July 30th, 2018,

https://www.sec.gov/Archives/edgar/data/923727/000119312518280675/d590629dex9974.htm

150? where ?

Even if Kenmore was sold, the windfall from that sale would not benefit Sears in any way other than to relieve some pension-related debt off the books. The cash from that sale would go towards the PBGC (pension) via a springing lien. The only way they are going to dig themselves out of this hole is to raise cash through strong sales in its stores and online presence, which is not unlike a snowball's chance in hell. Any revenue as of late seems to be mostly generated by asset sales, not from the actual business.

But Eddie says we have 150 billion in assets remaining. That should be plenty!

Of course you have to trust eddie has your best interests managing those when ya cut a deal for the debts

Or he sells them to himself hella cheap to pay the debts.

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Bills come due October 15

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