I assume the 1 billion dollars that Eddie received went to the paying the loans that Eddie took out from ESL (Eddie) to pay ESL (Eddie) back.
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Only takes three creditors to force an involuntary bankruptcy guv. These articles describe way more than three creditors just counting Bangladesh alone, and everyone knows the situation with all the other vendors too. Transform isn't going to have a choice in the matter unless it makes good on everyone it hasn't paid.
ah... wrong. It did not go to settle debts and they were/ are far from debt-free. Hundreds, if not thousands of vendors who provided hard goods, services and technologies have not been paid since 2019. Many of them right here in the USA. Get your facts straight.
It was used to pay all non real estate debt to zero. Except obviously this Bangladeshi vendor stuff. Transform was essentially debt free. There is no bankruptcy coming. You're seeing a structured liquidation of FLS.
Yes, it for sure didn't go to anything to helping the stores.
Sears Holdings??? They still exist as a small bankruptcy trust only. How about TransformCo.
Eddie had to beg borrow and plead a bunch of others for the most recent billion, since ESL obviously no longer has the funds to lend it out himself.