And that's to preserve the billions of net operating losses that are the single most valuable asset Sears has. They still exist within the assetless Sears Holdings, and it's worth nearly 2 billion. Eddie just has to run with the pretense that Transform Holdco is running the same business long enough to fool the IRS to transfer over the carryover losses to the Transform, and then drop the retail business like a hot potato, and he can start transforming Transform into a hedge fund or whatever the heck he wants to do with it. In the meantime, he has to put up this false front, or those billions disappear.
https://news.bloombergtax.com/daily-tax-report/insight-sears-net-operating-losses-will-survive-bankruptcy