https://restructuring.primeclerk.com/sears/Home-DownloadPDF?id1=MTE2NjE4 &id2=0
14 replies (most recent on top)
you will be judged by Allah harshly
This whole site is all about kicking a corpse. Plenty of blame to go around .yes the leadership are a group of criminals. but Suppliers too eger to sell anything without even checking if shld could even pay. Employees in denial. Bunch of greedy fools chasing the almighty dollar. curse you fools.
Told ya!!!!!!!!!!!!!!!!!!!!!!
Thinking it’s all over tomorrow. Total liquidation by Black Friday.
This says they had or having a meeting today. We won't know anything for sure until November 15 unless word leaks out before then about what happened today.
The plan envisioned by Lampert amounts to "an unjustified and foolhardy gamble with other people's money," the unsecured creditors committee said in court papers on Friday. Staying in operation long enough to allow a sale would burn through as much as half a billion dollars, which should instead go to creditors, the group said.
A group of the struggling retailers creditors called the chain’s turnaround plan “nothing more than wishful thinking” and said that staying in business “may no longer be an option”.
It's all over the headlines tonight.
And yet they still have legions of brainwashed workers who believe their propaganda. It's surreal.
And now the document has mysteriously is gone!!! Yeah guessing Sears didn't want that piece of info to come out, did they? Well, too late now...
It seems like everyone thought Eddie was to powerful ! no he is just a scammer , he is being outed and caught ! Sears is gone , everyone working there is out of a job and he will be in litigation with vendors for years to come , common sense ,,, Why are people still there ?
Hah; So the creditors are throwing their hands up and going; We don't know what will maximize our returns; We don't want to sell the stores to ESL or Eddie; but we also can't court anyone else to buy the stores. Also we the stores need to sell by end of year, but we also need more time to "investigate" than the end of the year.
TLDR: The creditors have no idea; but they don't want to actually sell the stores to ESL/Eddie. IE. They really want to Chapter 7 liquidate everything.
It's about to implode
Well, well, well....