Tuesday, October 30, 2018

Even More Stores To Close - Sears Bankruptcy Update

Seeking Alpha
More Sears and Kmart store closings could be announced by November 1 as part of the “Secondary Store Rationalization”, which could also mean additional store leases will be rejected by Sears Holdings. More vendors, including a filing by Whirlpool, for the reclamation of their goods.

According to the DIP loan agreement (docket 7 page 33 of 307), Sears has developed a “Go Forward Plan” that includes plans to close stores under the “Initial Store Rationalization” and close additional stores under a second round.. . . more