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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Eddie Lampert Wins!
Time to discard the carcass now that it's been sucked dry...
https://www.wsj.com/articles/sears-hires-advisers-to-prepare-bankruptcy-filing-1539136189
Quote:
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Sears Holdings Corp. has hired M-III Partners LLC to prepare a bankruptcy filing that could come as soon as this week, according to people familiar with the situation, as the cash-strapped company that once dominated American retailing faces a debt payment deadline.
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But not without one, final self-deal from the bottom of the deck...
Quote:
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But Mr. Lampert is pushing for a broader restructuring that would include shaving more than $1 billion from Sears’s $5.5 billion debt load, selling another $1.5 billion of real estate and divesting $1.75 billion of assets, including the Kenmore appliance brand, which he has offered $400 million to buy himself.
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__________________
Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris
"There is freedom in risk, just as there is oppression in security."
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