Not more Sears news...

[JJ99SS]

I only posted this because it seems that a few in here had expressed this same sentiment. This topic seems to be being beat like a dead horse...

Enjoy!

https://www.usatoday.com/story/money/2019/01/24/sears-bankruptcy-eddie-lampert/2667949002/

 

[NUTTSGT]

Well, if anybody is going to throw a wrench into his plans, it'll be the people that he owes money to. Maybe he thought they would just go along like they have done for years ?

 

[pfaustus]

Strictly speaking, they are not objecting to the sale. The unsecured creditors committee is asking for permission to sue Lambert for fraudulently taking assets for inadequate consideration. 574 pages with the exhibits. You can get the whole thing here for free https://restructuring.primeclerk.com/sears/Home-DocketInfo Search for Document #1765. Just a couple of pleadings away from APEX's demand to be paid $7 million and change.

 

[zendriver]

It only took them five years, to figure out that a Hedge fund Manager, was not going to take the sales of ladies unmentionables, riding lawn mowers and half-assed screwdrivers, back to the former retail glory, they so richly deserve.

I don't know **** about leveraged investments, but no one else, saw this coming?

To be fair, they were sort of stuck between a rock and a hard place.