Every 7 years I declare bk, then slowly get a bunch of credit cards, fill them up, and declare bk again. Is there a way a company like Sears can do this to keep surviving ?
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@yoq people could write books on the things you don't understand about environmental and bankruptcy law
my lawyer lets me do it every 8 years not 7. when i did my first i didnt have enough to pay her and it took awhile to save up for her. she told me if i do it again, next time, let her know 6 month in advance, and i can just charge her fees on one of the credit cards, because usually they dont like to forgive charges made up to 6 months before the bk. so yes it can still be done, but its a little stricter these days.
You are a liar. Personal BK no longer works that way (thanks GOP) businesses can walk away, people can’t.
USG is one company that came back much stronger but their BK was to walk away from some potential asbestos liability. Shareholders did quite well. GM wipes out shareholders new company has same name etc but prior shareholders got diddly. So it depends. Sears will be just fine, lots of money there if you know where to look (most on here way too dumb for that)
Gymboree is about to declare again
Companies that survive Chapter 11 often file for bankruptcy multiple times. But that will not be the case with Sears; as it cannot survive Chapter 11. Debts are too great for Sears to survive.
However the assets from Sears; including it's name and trademarks could be purchased from the current bankruptcy. Thus it is possible for a new entity to be operated under the Sears name; possibly even acquiring the former Nasdaq ticker. It could file for bankruptcy; and be mistaken for the old; former Sears; but would in fact be an entirely different entity; should this occur.
No. Can’t happen. Sears has a business model that nobody will invest in.
Gibson's Discount Center, once one of the largest national department store chains still has a couple of stores around. Sam Walton decided to start Walmart after he failed to acquire one.
Sure, look at Radioshack, they declared Chapter 11 TWICE and they are still....around...kinda....like about 20 some-odd stores? Hasn't really helped made them rebound did they?