https://twitter.com/ElizaHannon/status/1055133061308915712
Sears lawyer announces he’s asking for a DELAY to the hearing for the new loan Sears/ESL has been trying to secure. From nov. 1 to around nov. 8. Precociously said Sears needed the money by Nov. 3 to stay alive.
This will convert to a chapter 7, ZERO DOUBT. The gash in the hull and NOTHING is being done that can fix it before it sinks.
The longer Sears Holdings languishes in bankruptcy limbo, the greater the cash burn from continuing operations and the larger the fees earned by "advisors" on all sides. Just end it now.
I have not seen anything new on her twitter, I would say that chapter 7 is not a stretch at this point though. Even local vendors that have been contracted to do physical plant rehab are not getting paid and vendors are showing up at stores wanting their product back. It's over.
Rumours circulating today that things aren't going well. Chapter 7 is on the table. True?
Hope he doesn't get the delay.
Oh god how many times are they going to keep this f---ing place from dying, just let it die already!!!
Sounds like Eddie can't find any more fools willing to throw away their money.