From Fox Business:
"Sears Holdings has emerged from bankruptcy after more than 10,000 court filings and a four-year stay that saw the department store chain shrink from almost 700 stores to less than two dozen.
"The bankruptcy estate’s reorganization plan took effect on Oct. 29, signaling an end to Chapter 11 and the start of a liquidation process for its remaining assets.
"Sears Holdings is a shell company. It sold its stores in February 2019 to ESL Investments, an affiliate of former Sears chair Eddie Lampert. The $5.2 billion sale included more than 400 retail locations."
- KC's View:
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"Shell company" is an ironic term in this case, since Sears is barely a shell of its former self. Have to imagine that the remaining units won't be around for long, as the Sears banner - and Lampert's name - are relegated to history and retailing ignominy.
