8k out, kaboom! eruption! to the moon! wowza!
really?
there is nothing in here that hasn't been known for the last few days,
look at the publication of judge drain's order from last friday.
lampert and kulani resignations were announced on the 12th
pbgc issue addressed before drain's decision
would be most interested in why anyone thinks any new ground has been broken here.
anyone?
no new ground broken. the information which was included in the 8k filed today is anywhere from 2-7 days old or older.
anyone the least bit interested in doing any due diligence knew this already.
so where does that leave us? still waiting to find out the fate of shldq shares.
the following is from the 8k
As previously disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission on January 24, 2019 (the “January 24 Form 8-K”), on January 17, 2019, the Company and certain of its subsidiaries (together, the “Sellers”) entered into an Asset Purchase Agreement (as amended, the “Purchase Agreement”) with Transform Holdco LLC (“Buyer”), an affiliate of ESL Investments, Inc. (“ESL”), a significant creditor and shareholder of the Company, pursuant to which Buyer agreed to acquire from the Company substantially all of the go-forward retail footprint and other assets and component businesses of the Company as a going concern (the “Going Concern Transaction”). The January 24 8-K is attached hereto as Exhibit 99.1 and incorporated by reference herein. On February 8, 2019, the Bankruptcy Court entered an order authorizing and approving the Going Concern Transaction pursuant to the Purchase Agreement (the “Sale Order”).
The Going Concern Transaction was completed on February 11, 2019 pursuant to and in accordance with the Purchase Agreement as amended by that certain Amendment No. 1 to the Asset Purchase Agreement (the “Purchase Agreement Amendment”) and approved by the Sale Order. The assets acquired by Buyer and consideration described under the section entitled “Assets and Consideration” in the January 24 Form 8-K attached hereto as Exhibit 99.1 and the Purchase Agreement Amendment attached hereto as Exhibit 2.1 are incorporated by reference herein.
AI
