Replies to post #2581 on Sears Holdings Corp. (fka SHLDQ)

[deadjim]

I hate playing the news game, but yes, I saw that, and I've been saying Sears is on its way to BK since 2010 -- But there's also this:

Sears Holdings Announces Appointment Of New Independent Director


HOFFMAN ESTATES, Ill., Oct. 9, 2018 /PRNewswire/ -- Sears Holdings Corporation ("Holdings," "we," "us," "our," or the "Company") (NASDAQ: SHLD) today announced that Alan J. Carr, Managing Member and CEO of Drivetrain, LLC, has joined the Board of Directors (the "Board").

Carr has significant experience as a principal, investor and advisor leading complex financial restructurings, as well as serving as a director of reorganized businesses in the U.S. and Europe. Carr was previously an attorney at Skadden, Arps, Slate, Meagher & Flom LLP and Ravin, Sarasohn, Baumgarten, Fisch & Rosen.

Edward S. Lampert, Chairman and Chief Executive Officer of Sears Holdings, said: "Alan brings deep experience as a director for companies that went through complex organizational change. We are pleased to welcome him to the Board and look forward to the benefit of his expertise as we work to maximize value for the Company and its stakeholders."

and this:

WSJ
Sears, which has been losing money for years, has $134 million in debt due on Monday. Edward Lampert, the hedge-fund manager who is Sears’s chairman, chief executive, largest shareholder and biggest creditor, could rescue the company, as he has done in the past by making the payment.

But Mr. Lampert is pushing for a broader restructuring that would include shaving more than $1 billion from Sears’s $5.5 billion debt load, selling another $1.5 billion of real estate and divesting $1.75 billion of assets, including the Kenmore appliance brand, which he has offered $400 million to buy himself.

Mr. Lampert wants to restructure Sears’s debt without filing for bankruptcy protection, because he views bankruptcy as risky for retailers, according to a person familiar with his thinking.