Every single piece of evidence (real evidence, not speculation) points in that direction. Like there are only 3 options here: 1) complete liquidation (we have zero evidence of this) 2) partial liquidation and restructuring of what is left (no evidence of this) 3) a qualified (already happened) successful (just awaits the judge's signature) offer during the auction that brings the company out of the bankruptcy process. Will the judge sign? Well, it's not logically impossible, but the odds are SO far against it. SO far that if it were to happen I can guarantee that there would be an investigation of the judge. Will the commons remain intact in whatever will be continuing forward? This is where it becomes a little more debatable, but only if you don't confuse what is coming with a bankruptcy. Lampert and ESL could restructure the company (but the documents sent to the judge for his review explicitly state that equity interests will not be impaired or restructured). Insiders have bought more common stock. Institutions are still holding that selfsame common stock. What would Lampert have to gain by wiping the commons? First, he and ESL together have control of around 70%. Is it possible he wants to take Sears private and own it completely? I strongly doubt it. And why? Those institutional holders common shares would be wiped as well. Is that how a new Sears wants to start business by offending institutional investors? That would be exceedingly dumb. He needs those people if Sears is going to work going forward. He needs the trust of the market. He needs the trust of large credit banks (yeah the ones who have already said positive things about his plan). The naysayers obviously have an agenda. The agenda drips from their posts.
