sears has closed a boat load of stores and is currently conducting gob sales. those things need to be wrapped up by sears and things such as that will most likely go on for a very long time.
at the time of the bk filing, there were over 700 stores in sears' portfolio and by the time esl made its qualifying bid, he was only acquiring 425.
shc still has a nightmare on its hands wrapping up things which are not part of esl's bid.
this is where i am uncertain about what happens. it is my understanding that the entity filing for bk is the entity putting forth the por. now, will that por include provisions for spinning off what esl purchased and then provide a roadmap for liquidating the rest? i don't know.
the asset purchase agreement was an agreement by and among transform holdco, shc, and its subsidiaries.
seems any por would also be drafted with all of those entities addressed.
again, i don't know but those are my thoughts.
