there was a post about 2-3 weeks ago about a 3/16 announcement. Maybe it was the Sears layoff site that is also here and gets more posts. Now I can't find it .... I think it was if the loan doesn't go through then it's bankruptcy to satisfy creditors? We'll know soon maybe.
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curious as to wht Berkowitz would loan SHC any money at all. Even at a terrible interest rate, it's more likely than not to be money down the toilet. Maybe it's a tax writeoff
Good luck, dude. I think it's too little too late
They got the loan but with an outrageous interest rate. The loan does not give them cash flow to improve the stores or to pay down debt. The loan was to pay off another loan that they were going to default on. So now the same debt, (getting worse every day), with a worse interest rate and the assets they could have sold to keep going is now tied up to fund the pension they haven't funded. The end is near
Sears received their loan will be approved on or around April 8... unbelievable with their low credit rating.