SHLD will get reintegrated for the NOLs for continuity of business requirements and to complete Chapter 11. There's a reason he let it rack up debt, so the creditors will come to the table and sign off on getting pennies. Seritage is losing in a big way and has to sell profitable properties just to pay off the massive interest, an unsustainable endeavor. Clearly no one at Transform or Seritage knows how to run a profitable real estate company. Enter the Olshans, with their profitable portfolio and ready to take advantage of the NOLs, newly installed as CEO at Seritage. The real estate at TransformCo, Seritage can be sold, satisfying Warren Buffet's defaulted bonds. The coming casualties? Real Estate personnel, finance, and accounting at Seritage and Transform, who could have never made a profit working under the directives of Eddie Inc. The digital stuff will be spun off, as well as whatever ashheap remains of Kenmore and A&E, all of which have been shopped for ages with no takers, all under the Transform Holdings umbrella.
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Sounds like Eddie is in trouble!
They need to sell Kenmore, Shop Yo Way, and the Blue Light Special to Wal-Mart.
Pinky swear?