Thread regarding Sears layoffs

Sears too broke to exit ch 11 bankruptcy

Interesting article on seeking alfa with a lot of talk about converting to ch 7..liquidation

(I wd have posted a link to article but I don’t know how to do that)

In my opinion I think this whole mess has a good chance of completely collapsing very soon

But if they are so broke how do those special people get those ginormous bonuses quarterly? I’m talking 6 figure

Wonder if Judge Drain still believes fast Eddie is trying to save those 45,000 jobs he declared last October!!

Good luck to anyone still employed with Sears/Kmart! I would sure start looking for a job while you’re still employed too!

by Anonymous
| 3105 views | | 12 replies (last September 20, 2019) | Reply
Post ID: @OP+114t0pld
Comment! It's anonymous!

12 replies (most recent on top)

@114t0pld-4hry

Well, it looks like only 1.5 billion of that was cash which probably paid the banks, and the rest is a credit bid and rolling over the old debt. It's not like Sears debt evaporated or that money can be used to fund operations.

by Anonymous
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Post ID: @4gal+114t0pld

Where did the 5 billion go that Eddie paid for the company?

by Anonymous
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Post ID: @4hry+114t0pld

Eric Moore! XD

by Anonymous
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Post ID: @3yzj+114t0pld

I believe the Transformation was also postponed indefinitely.

by Anonymous
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Post ID: @1qja+114t0pld

Confirmation hearing; which was scheduled for tomorrow; has been postponed (again); indefinitely.

by Anonymous
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Post ID: @1lap+114t0pld

What is a 401a claim

by Anonymous
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Post ID: @1bpr+114t0pld

401A claims are also at risk now too. Check your mailbox already and lawyer up if you were expecting a tidy sum from back wages/prepitioned wages. Dang Criminals. Just disgusting!

by Anonymous
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Post ID: @1tyf+114t0pld

Huh.. I got into retail because I could make decent money without having to do much of anything.

If you think 100% markup is honest, you should try selling cars

by Anonymous
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Post ID: @1btv+114t0pld

We chose retail because its an honest business. You chose insulting people sitting at your keyboard eating fiddle faddle belittling people. Give the person a break and eat your cheetos elsewhere.

Another key board warrior,problaly a looooooser who lives in mommys basement

by Anonymous
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Post ID: @1vqs+114t0pld

The article is about old Sears. New Sears is not operating under chapter 11 protection

by Anonymous
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Post ID: @1epd+114t0pld

You don’t know how to post a link to an article? I can understand why you chose retail as a profession

by Anonymous
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Post ID: @1stx+114t0pld

Surprisingly The Unsecured Creditors now backs the confirmation plan. IMO this moves confirmation of their plan from extremely unlikely to only highly unlikely. Note: This is a liquidation plan (under Chapter 11; not 7). Everyone; including SHLD; admit they are administratively insolvent.

Reasons the Unsecured Creditors Committee now backs the plan may be unexpected. Primarily they see no reason to further erode what little capital Sears (SHLD) has left in a bankruptcy Court. They want to be able to move ahead with formal charges Outside Bankruptcy court against Sears and Transform; and try to capitalize on SHLDs D&O Insurance claims.

However; don't expect any vendors cheated out of CURE claims to back the plan. Particularly those guaranteed to be paid post bankruptcy by SHLD (or TRANSFORM) in court and assured of payment by SHLD's own client managers... and then left UNPAID on those guarantees,

by Anonymous
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Post ID: @1wla+114t0pld

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