<< Judge Drain cannot approve of this if in 5 years Sears no longer exists whether as its own entity or in a holding company. There needs to be guarantees that in 5 years there will still be 400 storefronts and 45,000 employees. >>
That is just a ridiculous statement.
The ESL deal is the ONLY deal on the table. If it isn't approved, then the alternative is that ALL 45,000 Sears' employees will lose their jobs IMMEDIATELY.
What is better for those 45,000 employees? To work another day, or to be fired immediately? The obvious answer of course is to work another day.