If Staples is a shadow of its former self in a few years then how will Sycamore get a return on their investment?
By selling Retail? Who in their right mind would pay a premium for our retail business in this environment. It's not called the #retailapocolypse for nothing.
By slashing store count? Why would Sycamore pay lease termination penalties and forego the free cash flow that stores throw off?
Makes no sense of your goal is to make money on your investment.