Come on Sears, Eddie just loaned himself another 200mil at 9.75 intrest for 151 days ... sears just sold real estate to pay down the last loans.
This will get us thru christmas but beware right after it will be ugly... this info was taken off seeking alpha
Pick you Christmas itms carefully no refunds Dec 26. They will not open. They need to promote gife cards that they can screw the recipient
It's to cover costs during an orderly wind down of operations. It will pay contractual liabilities, minimal operations, and diminishing payroll costs.
wonder whats so magical about Dec 11th - why not a 180 day loan ? Maybe they're going to do Turkey day and skip Christmas if T-day sux
$200 million? That'll get Sears through another month
Anyone have a rough idea of the total debt at this point?
@obm That takes us to December 15th. You think Sears would close IMMEDIATELY before the Christmas rush? I doubt that. They'll run through the Christmas/New Years buying spree and then close up shop early January. Maybe they'll even deny returns for big ticket items during that time.
If it's even true that they'll decide on a bankruptcy at that time.
The maturity date of 151 days tells you everything you need to know.
I hope he uses this to buy out the remaining people with pensions still working wih the copany
It's going to be interesting to see what happens after Christmas. It's no secret that the company is in deep survival mode. IMO the company is getting themselves in more debt.