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Potential Sears Liquidation News: 11 Things We Know

It’s looks like a Sears liquidation is getting ever closer.

Potential Sears Liquidation News: 11 Things We Know

Source: Shutterstock

Here’s what to know about the recent possible news of a Sear’s (NASDAQ:SHLD) liquidation.

  • It looks like Sears is rejecting the offer to save the company made by Chairman Eddie Lampert.
  • Lampert’s offer was to use $4.4 billion to rescue the company from bankruptcy via his hedge fund ESL Investments.
  • The goal was to continue operating 425 stores and keep 50,000 employees on board at the company.
  • As a result of the rejection, it is much more likely that the company will move forward with Sears liquidation plans.
  • However, it is still possible that Lampert will try to fight this and stop the Sears liquidation plans.
  • Even if the Sears liquidation plans do come to pass, it many not mean the complete end of the company.
  • Several aspects of the business may continue to teardrop after the liquidation, but Sears as it is known now won’t likely survive.
  • Reports claim that Sears is in talks with Abacus Advisory Group to help it with the liquidation process.
  • A Sears liquidation would bring an end to a company that has been around since 1893.
  • It would also mark the end of the troubled times for the company, which hasn’t seen profits since 2012.
  • This will also have some 68,000 employees losing their jobs.

You can follow these links to learn more about the possible Sears liquidation plans.

SHLD stock was down 31% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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