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