In case it wasn't readily obvious to anyone still stupid enough to be holding on to that
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Ya I work there now in appliances......it's almost like we're pretending to be a store it's a joke everyone's 3-4 wk out delivery date gets pushed out another 3-4 weeks after they waited a month after original purchase....it's a f---ing sham don't buy anything from Sears unless it's a complete steal and in stock or you probably won't even get it
The IRS requires you to maintain "historical" continuity with the predecessor business and is pretty capricious about it. You need a formal blessing.
And a company can legally 'survive' even while maintaining nothing of its previous locations, products, purpose for existence, etc. I once came across a US-based company that originally developed medical products, but had stopped selling those and became the owner of some kind of mineral mine in Africa instead. All under the same registration, just a couple of name changes along the way. It's considered the same company as long as the paperwork trail connects properly.
He'll have Leena manage a mattress store herself if he has to. She might be good on a mattress. Good sales promotion.wink,wink,nudge,nudge.
Sears has to survive as Sears Holdings in some recognizable form to carry forward the tax losses. It's a peculiarity of the tax code. Eddie will still make a bid to be Sears' ultimate successor. He'll have Leena manage a mattress store herself if he has to.