Personally I think they should close all of their stores, liquidate and pay creditors. They’ll end up closing them in the end anyway, why drag it out?
“They’ll end up closing them in the end anyway, why drag it out?”
Because the people who make that decision (including the board) would no longer have a job.
So they milk it until they have an option or the cow runs dry.
The CEO and his hedge fund are buying all the real estate both out from under Sears (and leasing back to them) or buying the property outright when they close. He has no reason to try to keep them open when he personally and his hedge fund are getting valuable property keep and will make vast amounts of money selling or renting them to other companies.
A Hedge Fund owner is not well suited to run retail...