When Sears (likely) files for bankruptcy, will it be Chapter 11 or Chapter 7? Either way, Lampert will make out well as he's the primary lienholder. Also, would this be the biggest retail bankruptcy of all time in the US?
14 replies (most recent on top)
FYI if you think closing 400 stores and opening 2 is growing you are probably a senior manager at Sears with lips attached to Eddie's ....
It's all already done. This is the end. Look the f--- around you. There is no one in any department anymore. Wake up. Can't wait till February when they announce they f---ed up too much to survive!!!!
Three Step Process
Holiday Blowout Sale > Holiday Blast Sale > Holiday Bankruptcy Sale = No More Sales
@QlbF4zW-1fiy You're only busy because they are doing the pre-liquidation cough I mean, Holiday Blowout sales. And even then, it isn't going to be enough to keep the company going for too much longer.
@QlbF4zW-1cqq What "new" stores are you talking about? Those small a-- little dinky stores? Yeah that will help save the company...
The courts could easily deny a Chapter 11 like they did with Sears Canada.
Right you are! Hell, we’ve been opening NEW stores this year! We are growing again!!!
Nope, never gonna happen. Busiest in ten years we found the sweet spot.
Bankruptcy ???? Lol, that gonna happen
Bankruptcy ???? Lol, that. Ain’t gonna happen
@QlbF4zW-ozv I highly doubt it. Eddie isn't interested in making more Sears stores. He just wants to sell the properties.
@ijd Could some high-performing Kmarts get converted to Sears, especially if there isn't an existing Sears store nearby?
@ijd Could some high-performing Kmarts get converted to Sears, especially if there isn't an existing Sears store nearby?
Lol lol
It will most likely be a Chapter 11 at first so that they can try and pretend that they are still trying to save the company. Though I believe during this time he'll shutter Kmart entirely to help prop up Sears for a bit longer and it will seem justified at this point to do so.
Eventually though they'll falter again and it will be too late.