Why do you want to consider liquidation at the first place?
Imo, SEARS was too " fat " and needed and still needs to close some badly located and mostly badly managed stores.
My experience with Sears stores the last couple of years has been quite disrespectful from employees/managers. The lack of knowledge of their products was obvious and the motivation of the employees was gone.
Almost like Continental Airlines in 1992-1994. Bethune showed up and drained the crap, returned airplanes orders, focused only on one fleet ( Boeing )and hired competent executive. The stock climbed from 2 to 50 Dollars.
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