After listening to court yesterday. I believe like most that a deal is done, but they do have goals for BK which are making quick progress. Once the goals are complete DIP(done) Approval for 250+ store closures (judge very favorable in regards to those) and Lease negotiations - gearing up... it will all come out.
The executive team took bonus before BK - says deal was done / pay back clause ensures it happens.
Next court date is 6/24 I expect real news around then to break... (could be sooner)
I believe they need to unseal a deal before key markers in July... but I don't know enough about buy out in BK to really understand.
No matter how this goes, company is not insolvent... I think everyone in court agrees.. but they can take advantage due to covid.. Perfect storm...
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