• The Sears Tailspin Has Some Liquidators Sharpening Their Pencils

    2 monthes ago - By WWD

    The tailspin at Sears Holdings Corp. is getting more dire by the day as talks begin to surface of lenders pushing for a Chapter 7 liquidation.
    One executive at a liquidation firm summed up the crisis as follows: “This isn't just a Chapter 11 bankruptcy with hopes of a reorganization. Whenever there's talk about a Chapter 7 filing, that is very drastic. It means want to throw out management.”
    According to this liquidation executive, the vote of no confidence can be attributed to Sears chairman and chief executive officer Edward S. Lampert. “Many people don't like him. They think that he...
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