Lack of cash is an issue for Sears, which is trying to bring to an end its chapter 11 case but doesn’t have the money to cover essential bills
Sears Holdings Corp. failed to cross the finish line of bankruptcy Thursday amid mounting worries of financial distress at “new” Sears, the core of the retail chain that former chairman Edward Lampert acquired in a chapter 11 deal.
Much of the cash that suppliers are counting on in the bankruptcy of “old” Sears is supposed to be coming from the sale of the salvaged stores to Mr. Lampert’s Transform Holdco.Sign in or subscribe for access to peerless insight & analysis, curated data & interactives, and networking events.
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