Monday, October 7, 2019

"Sears Wins Liquidation Plan Approval"


"Sears Holdings Corp. won court approval Monday of a chapter 11 liquidation plan requiring suppliers that kept its shelves stocked in bankruptcy to wait for their money or take a discounted payoff."
Our posts about the decline of Sears over the years: (1, 2, 3, 4, 5). Also,the post from last spring where we noticed the Sears capital structure mispricing. And our post last September about Eddie's last ditch attempt to keep Sears out of bankruptcy:
Here is something I do not understand about Eddie or Elon Musk. They each made a serious entrepreneurial mistake over a decade ago and have been dealing with the miserable consequences ever since. Why keep prolonging it?
Just finished a book called Dead Companies Walking by a short seller. He would say that Lampert and Musk are typical hyper-competitive types in business who do not know when to quit.

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