Creditors urge Sears to shut down all its stores, calling its plan for survival ‘wishful thinking’ (SHLD)

SearsAP Photo/Charlie Riedel

  • Sears‘ unsecured creditors are urging the company to shut down all of its remaining stores. 
  • In a bankruptcy filing, the creditors slammed Sears’ plan to stay in business as “nothing more than wishful thinking” and “an unjustified and foolhardy gamble with other people’s money.”
  • Sears has proposed cutting its store count to roughly 400 profitable stores, then selling the associated real estate to raise cash while the company works to return to profitability.

Sears’ creditors are demanding that the company shut down all its remaining stores.

The retailer’s plan to survive bankruptcy is “nothing more than wishful thinking” and “an unjustified and foolhardy gamble with other people’s money,” a group of unsecured creditors has declared in a new filing. 

See the rest of the story at Business Insider

NOW WATCH: Buffalo Wild Wings’ Blazin’ Wing Challenge requires a waiver before attempting

See Also:

SEE ALSO: Eddie Lampert steered Sears into bankruptcy, but he’s found ways to gain if it sinks

Post Author: martin

Avatar
Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.