Thread regarding Sears layoffs

Well they’re billing Old Sears a lot because Old Sears has a team of lawyers. According to seeking alpha posts Eddie was using only a few. This whole team didn’t even prevent Eddie from buying the whole company and just spent nearly a year arguing over some chump change they left in the register tills which Eddie is paying $18 million for and the lawyers are going to get every last penny of.

The vendors that settled with Eddie when he bought Sears and started Transform last year got paid, I don’t know why the others didn’t or what they thought they’d gain by waiting. Bankruptcy is fairly structured. I really don’t feel much sympathy for vendors that didn’t settle with transform then because they had the opportunity to.

For those who can't see it due to the paywall, it refers to the Sears Holdings bankruptcy, but given that the same players are involved in the new company and nothing has changed, any vendor who gets an order for merchandise from Transformco should be wise enough to ship only an cash up front. Which explains why most stores that are still standing have little, if any, new merchandise.

@ 133CLJRy-cyi the crux of the biscuit is as follows:
The bankruptcy lawyers and “advisors” who have been billing Sears/lambert in excess of $1500/hour to “advise”, have racked up more than $200M in legal fees which according to bankruptcy laws, must be paid (in full ) first before the vendors, creditors and associate’s severance claims.... in other words, ain’t nobody getting paid.

Paywall