The corporate husk of the old Sears is still trying, and struggling, to pay its bills in Chapter 11, more than two years after Eddie Lampert acquired the remaining Sears and Kmart stores from the company he used to run.
According to a court presentation by Sears Holdings, the company only has $18.3 million in cash as of April 10 to pay more than $97 million in remaining administrative claims and taxes, along with millions of dollars in other liabilities.
All told, Sears Holdings is short $80.8 million on its obligations, which includes professional fees, vendor payments and other claims.
5 replies (most recent on top)
Yawn. This has been posted before
Creditors are trying to pierce the bankruptcy and go after Eddie, ESL, and TransformCo. Eddie will probably settle for a pittance, but here's to hoping they succeed.
Maybe they can close more Sears Shoe Stores!
Maybe they should sell off the Guam Kmart and Virgin Island Kmarts!
They better pay up!