What ever happened to the 138 ring fenced properties

That were released from ring fencing and were to be sold and proceeds go to the PBGC for the pension fund?

In the list of 504 stores I know the Westland and Novi Michigan stores are on the go forward list but were also on the list of 138 stores to be sold according to article back in November 2017.

I can't imagine that filing ch11 bankruptcy would change anything with the PBGC

Anyone know how many of the original 138 stores are still open and on the go forward list?

Won't they still have to be sold for the pension fund?

Comment! It's anonymous!

5 replies (most recent on top)

All remaining stores are being treated the same way at this point.

Whatever the count is of the remaining 138 ring fenced stores, won't they still have to be sol even if Sears comes out of bankruptcy?

REMIC list: https://seekingalpha.com/article/3965220-red-flags-sears-pensioners

Sears has been released from its obligation to the PBGC on those properties, over a year ago. https://www.pionline.com/article/20171108/ONLINE/171109850/sears-reaches-deal-with-pbgc-to-end-ring-fence-for-140-properties

Where is the list of stores?

Yes, the pension fund still holds the rights to whatever value comes from the sale of those stores.

Thread regarding Sears layoffs

What ever happened to the 138 ring fenced properties

5 replies (most recent on top)

Post a reply