If everything is "business as usual", why is Belk trying to fast track this bankruotcy? Why are they afraid to "spook vendors and customers"? Are they that desperate? Sycamore is retaining only barely half of the company. What will the lenders do with their half? Why would they even want it? This could go downhill quickly.
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There are some who want a fast tracked orderly process where everyone takes a haircut. There will be others who may not agree to a bankruptcy plan because they think they're owed more. Some will not agree because they'll get nothing, but they don't really matter as far as a court is concerned. It's certainly Belk's best interest to get back to business quickly and not scare away all the vendors, but there will be others who might think their best chances at recovery is a total liquidation. There are thousands of creditors in a bankruptcy of this size, and no matter what some are inevitably going to get screwed, because if their was enough money to pay everyone they wouldn't have declared bankruptcy in the first place.
So they have $200 million to buy 3 Cruise ships, what about the Belk employees that are hurting now, help us
Because it is not as it seems. Nothing Sickamoore says turns out to be true. Nothing. And Lisa Harper and Don Hendricks work FOR Sycamore not Belk. They have no interest in Belk. They just want their millions when the company folds...and it will...
If business as usual, why are they worried about "disrupted operations" in bankruptcy?