If Hometown concerts to CH 7 the valuable tax loss NOLs go poof. Net operating losses were huge, and ESL spent hundreds of millions and 3 years in court to obtain NOLs from Sears Holdings. Any defaulted payments are trivial compared to prior Sears loans while Hometwon NOLs are far more valuable than the pittance of remaining assets. Transform not caring implies nothing good about its financial health.
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It’s simple, children:
The over-hyped NOLs are practically worthless.
Is esl owned by Ed lambert?
We should be concerned about this because.......?
Is ESL saving the Chicago Ridge store?
Tax write offs are fine when can use them to free up your assets and income toward other uses. When tax write offs represent more, most, or all that you have left, they don't free up other resources for alternative use. There is no SHC left to reorganize into a Transformco. There are no terms of credit from vendors, SHO was the last unit to have credit. There is no company left to which to lend your money to extract cashflow. There is no direct delivery network left to sell to Costco. There's no Diehard, no Craftsman left to sell. There's only a Kenmore brand that has probably lost all its brand equity. There are no bankruptcy judges left who are amenable to reorganization to save jobs (there are almost no jobs left to save). And--since this house of cards is all linked together--there is a sizable loan to repay to a certain Omaha-based company that wants to "monetize assets" and "unlock some value" of its own. This is 2023, not 2018. The cupboard is bare. Any funds or resources that a tax write off might free up, this time around, probably have claims on them. Surely, smart people in accounting and finance can wring more blood out of this turnip, but we are running out of road. The game is up.
It's crazy how so many lawsuits forums and articles find a million new ways to say "Eddie is a failed , mean, and dumdum 💩 head?