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"It's easy to cast aspersions around the company's major shareholder," Sears's lawyer Ray Schrock said earlier this month in court "but whether you like it or not, if there's a buyer that can save tens of thousands of jobs, we need to look at it seriously, and that's what we're doing."
https://www.wsj.com/articles/sears-entertaining-offers-from-liquidators-as-esl-cyrus-prepare-takeover-bid-1543445686
IMO
Mr. Lampert is the best hope to save peoples tens of thousands jobs. I salute Mr. Lampert for the his good deeds.
God Bless.
Mr. Lampert's hedge fund, ESL Investments Inc., and Cyrus are expected to place a credit bid, meaning they would forgive some Sears debt in return for control of the company, the people said. However, that offer would likely include cash as well as the forgiveness of debt, one of the people added.
https://www.wsj.com/articles/sears-entertaining-offers-from-liquidators-as-esl-cyrus-prepare-takeover-bid-1543445686
with possible merge
Hot stock for high momentum gains...
Good day...
$0.40, $0.60 then $1.00
SHLD $$$
shorts cover
Sears reached the deal with Cyrus Capital Partners LP for the financing just before a hearing began in U.S. Bankruptcy Court for the Southern District of New York on the retailer’s so-called debtor-in-possession financing arrangements, according to a person familiar with the matter.
Cyrus’ loan replaced a similar deal Sears reached earlier this month with Great American Capital Partners, a financial firm affiliated with liquidation specialist Great American Group and financial services firm B. Riley Financial Inc(RILY.O). Cyrus offered better terms to Sears, the person said.
“The terms of the transaction were much less favorable than what we had agreed to,” said John Ahn, president at Great American Capital Partners.
A Cyrus spokeswoman had no immediate comment.
A Sears spokesman declined to comment on the deal for the $350 million loan, which U.S. Bankruptcy Judge Robert Drain approved at the hearing.
The loan adds to $300 million that banks provided Sears when it filed for bankruptcy protection in October, giving the beleaguered retailer a total of $650 million in financing.
“These loans are going to benefit everybody,” Drain said.
The loan adds to $300 million that banks provided Sears when it filed for bankruptcy protection in October, giving the beleaguered retailer a total of $650 million in financing.
Sears secures court approval for additional $350 million loan
https://www.reuters.com/article/us-sears-bankruptcy/sears-secures-court-approval-for-additional-350-million-loan-idUSKCN1NW2IF
$1.00 coming
yes and shorts will cover
huge buy, time to bounce to $0.40 plus
$0.36 great oppurtinity to buy
Please sell me your shares
Sears identifies 505 stores it hopes to keep open
https://www.chicagotribune.com/business/ct-biz-sears-stores-for-sale-20181123-story.html
Good management, and good company...
Sears seeks big bonuses for top executives
https://www.marketwatch.com/story/sears-seeks-big-bonuses-for-top-executives-2018-11-19
Hedge Fund Offers Truce to Save Sears Swaps Wager
https://www.wsj.com/articles/hedge-fund-offers-truce-to-save-sears-swaps-wager-1542647996
Sears is calling for revenue of $4.4 billion in the fourth quarter, which includes the holiday season...
https://www.cnbc.com/2018/02/15/sears-sales-fall-but-company-expects-to-post-a-profit.html
How about today?
I agree.
A court hearing finalizing bankruptcy financing for Sears is expected during the week of Oct. 29.
https://www.reuters.com/article/us-sears-bankruptcy-lampert-exclusive/exclusive-sears-chairman-lampert-seeks-partner-for-bankruptcy-financing-sources-idUSKCN1MW01U
I do not know what happened to radio shack, was the common completely wiped out? Exco resources went on bankruptcy, XCOOQ is $0.05 now, once was $2.0. So i expect same thing happen to SHLDQ
Source?
It will not affect the company’s operations anyway
not correct.
not good actually bad trend
On October 8th, there was news released, some kind of form...any one know of please share
We could
30s today
Correct.
http://www.chicagotribune.com/business/ct-biz-sears-bankruptcy-trump-mnuchin-20181016-story.html
Treasury secretary was a member of Sears' board from 2005 until December 2016.