Replies to post #33739 on Sears Holdings Corp. (fka SHLDQ)

[rc1968]

why commons are worth zero

I have posted this before but since there seem to be new people on here suddenly a refresher is in order I think.

The details

Here are all the links, I am not going to post all the quotes from them so feel free to read them so you then have the facts

Asset purchase agreement, where substantially all the assets move to Transform Holdco

https://www.sec.gov/Archives/edgar/data/1310067/000119312519016016/d689966d8k.htm

8K stating the above agreement has closed as well as more details of some changes to the final agreement.

https://www.sec.gov/Archives/edgar/data/1310067/000119312519041193/d704657d8k.htm

8K stating there will be nothing left at the end of the wind down

https://www.sec.gov/Archives/edgar/data/1310067/000119312519069855/d720335d8k.htm

Quote:
The Company does not believe that there will be sufficient funds or other assets in the Estate to allow holders of the Company’s common stock to receive any distribution of value in respect of their equity interests and expects to file a chapter 11 plan memorializing that belief in the coming weeks.

Court Dockets stating they are winding down (see page 3 section B3)

https://restructuring.primeclerk.com/sears/Home-DownloadPDF?id1=MTQ1MjE2&id2=0

I will quote that one

Quote:
Since, the closing of the Debtors’ sale to the Buyer, the Debtors have been focused on transitioning the businesses and employees to the Buyer, identifying the unexpired leases and executory contracts that will be transferred to the Buyer, establishing an orderly means
of resolving the claims through the Bar Date Order, and preparing a chapter 11 plan to wind down the Debtors’ estates and close the Chapter 11 Cases.