ESL's Bid for Sears/KMART has failed. Liquidation is now almost a certainty.
https://www.bloomberg.com/news/articles/2019-01-06/sears-said-to-prepare-for-possible-liquidation-as-esl-bid-fails
Quote from: Brammy on January 06, 2019, 05:53:47 AM
ESL's Bid for Sears/KMART has failed. Liquidation is now almost a certainty.
https://www.bloomberg.com/news/articles/2019-01-06/sears-said-to-prepare-for-possible-liquidation-as-esl-bid-fails
No surprise, they were at the point of no return anyway. I guess we all will have closing sales to go to.
https://www.reuters.com/article/us-sears-bankruptcy-liquidation/sears-picks-liquidator-should-rescue-talks-fall-through-sources-idUSKCN1P103R
Vendors at this point have almost zero trust in Eddie Lampert & Co.
They'd rather take their ten or twenty cents on the dollar and walk away.
Sad, but predictable.
At this point, If you search Sears on google, It is over, It says that Sears asked judge to liquidate the company. Which would make it what some say "The most high profile liquidation yet"
I do think that somebody will acquire the internet domain and enough of the
assets for Sears to continue as an online-only retailer.
From some of the sources I am seeing when you Google "Sears" it appears that Lampert is not giving up yet and has been given another chance to buy the company from bankruptcy but is required to pay a $120 Million deposit by 4:00 P.M. on Wednesday. Sears will hold a auction next Monday (January 14) to compare Lampert's offer against the Liquidators.
https://www.cnbc.com/2019/01/08/chairman-eddie-lampert-to-get-another-chance-to-save-sears-sources-say.html
Does anybody here think that they should take the Lampert offer or just give up and Liquidate anyway?
Quote from: deerwrecker2017 on January 08, 2019, 01:42:12 PM
From some of the sources I am seeing when you Google "Sears" it appears that Lampert is not giving up yet and has been given another chance to buy the company from bankruptcy but is required to pay a $120 Million deposit by 4:00 P.M. on Wednesday. Sears will hold a auction next Monday (January 14) to compare Lampert's offer against the Liquidators.
https://www.cnbc.com/2019/01/08/chairman-eddie-lampert-to-get-another-chance-to-save-sears-sources-say.html
Does anybody here think that they should take the Lampert offer or just give up and Liquidate anyway?
Liquidate.