What does this filling for bankruptcy protection mean?

Huh, thought reading something in the news would help, but reading this Reuters article hit me hard. Good luck to Kenmore and Home Services guys and girls, my heart goes to you, but at least you know where you stand. For the rest of us the agony continues. There will be a lot of anxiousness in a next few days, don't know if I can stand it anymore.

I just can't wrap my head around this, what does this filling for bankruptcy protection even mean? Does this mean they are aiming for Chapter 11, or they are trying to save something while getting ready for Chapter 7?

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vendors wont get paid. They will just sell anything that is already in the warehouses.

Hello, does this mean kmart is going to pay its vendors?

I am on the hook for $6000 in merchandise delivering to a kmart that is closing. Will I be paid?

They will sell a few parts of the company off but all stores will close and liqudiate. It may take a month or so to get there but its whats going to happen. No one will buy sears and kmart and run the stores they simply can not make a profit on their own. Just like Sears canada got a short loan looked for a buyer then liqudiated so will Sears and Kmart.

Its over people move on find another job. I spent 15 years at Sears left 4 years ago after to many years with out a raise and only threats from managment. There is a better life after Sears or Kmart, I am making 2 Xs my Sears wages worked for a great comapany and was just offered another position at another fantastic legacy company that found me for even more money. Get out there find another job .

11 first, 7 follows

It sounds like it would be Chapter 11 for now, and then it would move to Chapter 7 if they don't meet the goals/benchmarks they're setting.

Thread regarding Sears layoffs

What does this filling for bankruptcy protection mean?

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