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