Sears & Kmart are likely down to their last 24 hours

[dantes]

Out of curiosity, does this also mean liquidation for Kmart? I’ve seen conflicting accounts.

[Safiel]

@dantes

Out of curiosity, does this also mean liquidation for Kmart? I’ve seen conflicting accounts.

Yes, everything under the umbrella of Sears Holdings would be liquidated.

[Safiel]

With the DISCLAIMER that this is NOT an official announcement, but leaked information.

It appears that Lampert’s bid had been rejected and that Sears Holdings will be going into full liquidation, with all stores closing and all employees terminated in a matter of days.

[Munimula1]

We are witnessing the end of an era.

[Dissident_Aggressor]

Queue the track “Staying Alive”? Still has to be approved by a bankruptcy judge. And even then, their future is highly questionable.

Sears staves off liquidation, stores to remain open

[Safiel]

@Dissident_Aggressor

Queue the track “Staying Alive”? Still has to be approved by a bankruptcy judge. And even then, their future is highly questionable.

Sears staves off liquidation, stores to remain open

Even if they get approval in bankruptcy for this, it is just the equivalent of doing balloon angioplasty on Terri Schiavo. The corpse is kept breathing for a few months longer, but it is still just that, a corpse.

Sears will be back in bankruptcy sooner or later, just as was the case with a number of other retailers that survived an initial bankruptcy, but then returned to bankruptcy.