While I see your point I don't believe its correct for the simple fact is that I am a creditor (and current vendor) and there was a delay in getting paid last week. I inquired as to why we didn't get paid on time and the explanation given was that they had to setup all the new bank information in the new company for all the vendors (8000 roughly is what I was told) and it took time to do thus resulting in a 3 day delay.
I can't tell if the payments are coming into my bank are from a different bank or not unfortunately.
As well there would be no benefit to old sears in doing anything, it won't increase the assets value and as you stated the old sears has to limit its activities to liquidating its assets so issuing press releases like this would be against that.
The closing date is not specified other than 3 days after the
"satisfaction or waiver of the conditions set forth in Article X and Article XI "
Nothing of which looks like it couldn't have been done already. And specifically the KCD IP stuff is related to the licensing of the brands so they would had to have gotten the consent to issue the press release in the first place.
Ah geez, I just remembered we got a letter on Feb 15th from Sears CFO (Rob Riecker) specifically stating the sale was closed. So it is for sure closed. The wording is
"We are pleased to confirm the closing of the sale of substantially all of Sears Holdings' assets, including 425 "Go Forward Stores", to Transform Holdco LLC, an affiliate of ESL Investments, Inc. for a total consideration of approximately $5.2 billion"
AI
