Where's the value? That is the real question. In an economy of dwindling brick and mortar retail, what is the real value of all of this Sears real estate? Who would want it? Macy's, Kohls, Nordstroms, JCP all seeing store closures. Walmart and Target devoting all resources to enhancing their online presence and site to store. Who is going to want hundreds of giant locations at malls when the idea of a shopping centers may be completely different in even 5 years.
The saddest part for SHLD is now lending out their Kenmore and Die Hard brands for sale on Amazon why would anyone pay good money for the IP?
Just my $.02 - not much worth a short at this point given how low the market cap is already, but some LT puts could be worthwhile here once liquidity dries up.
