But you are still banking on a pretty extreme BK case here. It does not seem that this case is that complicated. The company has said openly to the public that they want new terms with the main lender, Sycamore Partners. They want to "renegotiate burdensome contracts, resolve its ongoing disputes with Sycamore Partners and achieve long-term financial stability" so I do not see that they will "stiff" anyone. They need to get new terms with sycamore and they will probably continue to pay bills. Yes the company has some issues and they closed stores. That is a move in the correct direction, lose the dead weight.
Shares canceled, yeah is possible. I just don't see it. The position they are in currently just is not that bad, and they are taking action against Sycamore to correct the problem. Mix that with Julian Geiger back as CEO to turn around the sales/product of the company.... good things to come.
