I say 0.75. And I say we get a bankruptcy announcement by the end of the day.
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It will be about 30 cents in a week or two. Bankruptcy filing won't happen until after Thanksgiving. That's only when they can tell if sales can be improved over Christmas period. Most likely it won't improve since only few people will want to buy big ticket items from a dying company.
They aggressively pursuing soft lines this holiday season and that can save them from a BK. If they can pull that off it will give them a breathing room to next quarter.
Hit .75 today. Maybe after market close.
Yup, I say next week as well.
It won’t be today
The holiday kick off meeting is happening this week in Chicago
The announcement will be next week at the soonest
Sears Canada stock traded for months below a dollar before bankruptcy was announced
At the stage of the game, the stock price is the least of SHLDs' worries. Debt payment is due on the 15th of this month. Eddie and company have a little less than 2 weeks to restructure ( the debt ). If an asset sale cannot be negoiated, then yes, you'll see a filing, but it won't happen this week.
Or end of the week, at the most.