Sears Holdings Corp. (fka SHLDQ)

[LouisDesyjr]

Only when they have 'no choice'

I had fully and logically expected they would have filed on July 10, since no one can see any reason for them to keep up the charade of being able to turn things around.

I expect that since there is no reason or logic to how they are running the company or their planning, that a bankruptcy filing will only come when it becomes impossible to run the stores anymore; either they are totally out of cash and simply can't pay employees or utilities OR they are so far behind with their suppliers that a group of them forces an involuntary bankruptcy filing.

Forced Into Bankruptcy: The Involuntary Bankruptcy Process

Normally, I would consider that the insiders just want to keep the company going for as long as possible to collect salary and benefits, but since the CEO has all kinds of other investments I can not see that would be a deciding factor on his part.

The only other logic I can see if that they are managing things so as to get more of the company when a bankruptcy happens, but from what I understand, I think the CEO and his other controlled companies would already get everything with the secured liabilities for ESL and SRG.

Louis J. Desy Jr.