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The once-dominant American retailer hopes to reemerge with some part of its business intact.
Sears will sell or sublease some of the 425 stores of the retail chain and open smaller stores ... A U.S. bankruptcy judge approved Lampert's hedge fund ESL investments Inc's $5.2 billion takeover ...
If approved by a federal bankruptcy judge, $125.6 million of the agreed upon settlement would come from insurers, $41.9 million would come from the defendants and $7.5 million would come from ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
The company filed for Chapter 11 bankruptcy protection on October 15, 2018, in New York; the same day that a $134 million debt payment was due, [46] and will close 142 stores, including 63 Kmart stores and 79 Sears stores.
Following the Chapter 11 bankruptcy filing of Sears Holdings on October 15, 2018, Transformco purchased the surviving assets owned by Sears Holdings for $5.2 billion. [1] On June 3, 2019, it was announced that Transformco would acquire Sears Hometown and Outlet Stores. As per the deal, Sears Hometown might need to divest its Sears Outlet ...