Sears is going to need another huge loan or go into liquidation anyway. What's next Eddie?
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Return to positive cash flow and you don’t have to worry about revolving loans anymore. The name of the game is to sell our merchandise and remember our customers
From what I’ve read they have close to a billion in credit revolvers lined up for if Eddie was successful. Without all the old debt wiped and given he paid $.58 on the dollar for the existing inventory this should last into next year. Cash burn will be far less without those debt interest payments.
They have lines of credit already in place for the assumption of the winning bid.
He owns the company. Debt and junk jettisoned in bankruptcy. He starts over again. Borrow against newly unencumbered property. Correct me if I'm wrong but that's what it looks like to me. FWIW
@X9XQUkt-1bwh Oh great...another month...
@icgy those are being used to pay off creditors. Think there's a 325M credit line that was mentioned that should buy another monthish.
S few hundred million is being brought in by Eddie. Last another 90 days?
MORE LOANS!!!!!!!! F--- THE DEBT LET'S KEEP THIS WRECK GOING!!!!
That would be when Sears Holdings’ DIP runs out on Feb. 16. The sale to Eddie closes Feb. 1. IDK what they’ll do for cash and strongly doubt anyone knows at this point, but Eddie has to keep the remains in operation as “the original company” in order to use the tax write offs.