lg,
THANKS FOR THE RESPONSE. THESE ARE MY THOUGHTS.
FIRST, IT'S OLD SEARS WHICH IS IN BANKRUPTCY, NOT LAMPERT.
1) Early dismissal from Bk means extra cash flow of 15 to 20 million a month
THE ONLY CASH FLOW I CAN SEE COMING TO OLD SEARS IS A RESULT OF THEIR VARIOUS GOING OUT OF BUSINESS SALES. ONCE THOSE SALES ARE COMPLETE, FOR THE STORES PURCHASED BY LAMPERT, THEY WILL BE TURNED OVER TO LAMPERT. FOR OLD SEARS OWNED STORES, IF THEY ARE SUBJECT TO SECURED LOANS THEY WILL EITHER BE SOLD AND THE PROCEEDS TURNED OVER TO THE SECURED CREDITORS OR POSSIBLY JUST BE TURNED OVER TO WHATEVER CREDITORS MAY HAVE HAD THAT SECURITY TO DO WITH AS THEY CAN TO MAXIMIZE THEIR RECOVERY. FOR ANY OF THE REMAINING STORES WHICH WERE NOT SECURED, ANY MONEY RECEIVED WILL BE USED TO SATISFY OTHER CREDITOR CLAIMS. I DON'T SEE ANY OF THIS BEING "HAPPY MONEY" FOR OLD SEARS.
EARLY DISMISSAL TO ME MEANS ALL OF THE "STAYS" PREVENTING CREDITORS FROM GOING AFTER OLD SEARS (THE ENTITY IN BK, NOT LAMPERT) WOULD BE LIFTED AND OLD SEARS WOULD BE SUED IN MULTIPLE STATE AND POSSIBLY FEDERAL COURTS AROUND THE COUNTRY. THEY NOT ONLY WOULD NOT HAVE THE "PROTECTION" AFFORDED THEM IN BK, THEY WOULD BE TORN APART.
AN EARLY DISMISSAL WOULD NOT GET THEM OUT OF THE OBLIGATIONS THEY HAVE TO CREDITORS, MUCH LESS THE ADMINISTRATIVE COSTS THEY HAVE AND ARE INCURRING.
2) No POR necessary due to already having a well thought-our plan-Time is mobey
YOU'RE CORRECT THAT NO POR WOULD BE NECESSARY, BUT THAT WOULD NOT BE A RESULT OF ANY VIABILITY ON THEIR PART. REMEMBER, THEY SOLD SUBSTANTIALLY ALL OF THEIR ASSETS TO LAMPERT. THE MONEY LAMPERT PAID TO ACQUIRE THOSE ASSETS IS EARMARKED. OLD SEARS CAN NOT JUST WALK OFF WITH IT AND GO ABOUT THEIR BUSINESS. THEIR BUSINESS WITH AN EARLY DISMISSAL WILL BE DEFENDING THEMSELVES AGAINST MULTIPLE LAWSUITS.
3) Also tells me a huge planned expansion on Amazon partnership that started in 2018
THE CURRENT AMAZON PARTNERSHIPS ARE PART OF THE "ASSETS" LAMPERT ACQUIRED. OLD SEARS HAS NOT MUCH OF ANYTHING LEFT, MUCH LESS AMAZON PARTNERSHIPS.
4) Common shares would sky-rocket from current levels because most expect the to be cancelled
THIS IS YET TO BE DETERMINED. WILL SHARES BE CANCELLED AND BECOME WORTHLESS OR WILL SOME TYPE OF VALUE BE REALIZED AS A RESULT OF SOMETHING LAMPERT MIGHT DO WITH TRANSFORM HOLDCO.
"NEW SEARS" IS SOMETHING WHICH WILL BE CREATED BY LAMPERT, IT IS NOT A PHOENIX RISING FROM THE ASHES OF "OLD SEARS" AS A RESULT OF "OLD SEARS" EFFECTING SOME TYPE OF REORGANIZATION AROUND WHATEVER IT IS THEY MAY HAVE LEFT AFTER DEALING WITH PAYING OFF CREDITORS.
IN OR OUT OF BANKRUPTCY, WHAT IS KNOWN AS OLD SEARS WILL ONLY BE AROUND TO DEAL WITH THE MESS WHICH IS LEFT OVER AFTER SELLING SUBSTANTIALLY ALL OF THEIR ASSETS TO LAMPERT
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AGAIN, NOT A LAWYER, BUT THAT IS WHAT I SEE ARE THE IMPLICATIONS OF AN EARLY DISMISSAL.
