"How Much Cash Does Sears Have Left?" A must-read.
"In other words, Lampert will likely put off Sears' bankruptcy for as long as he can, or at least until the company's underlying real estate assets can justify it. That means that Sears' demise is likely to come piece-by-piece, just as it's been unraveling in recent years, rather than in a sudden bankruptcy declaration. As of its most recent quarterly report, it still had 1,250 stores, so there's plenty more assets to unwind and stores to close. Though the retailer appears to be in the last throes of death, it could still hang on for a few more years if Lampert wishes."
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