They should just say "Your honor, from our perspective, Mr. Lampert hasn't accomplished a single thing except burn through $700M of our money and further prove his incompetence by managing to lose money during the holiday season. There is no evidence that Sears can move forward as a going concern. We wish to move for Chapter 7 immediately"
2 replies (most recent on top)
“Where are those holiday numbers? If Eddie thought this was a viable ongoing concern why doesn't he show it? Or is it because they're bad enough to cement the creditors conclusions that this company is dead?”
The second scenario is most likely correct
Where are those holiday numbers? If Eddie thought this was a viable ongoing concern why doesn't he show it? Or is it because they're bad enough to cement the creditors conclusions that this company is dead?