OK...They sold just 5 leases in Canada for $400 million.
That equates to nearly 7% of SHLD market capitalization. Meanwhile they still have THOUSANDS of leases and properties to sell, plus they own a very valuable Land's End and KCD franchise, which together is worth conservatively $4 billion.
and you think they are trying to "raise cash" to survive?
do your homework.
andev... it might behoove you to read an Sec filing. or at least the articles, and not the rumor.
the BULK of the leases are worthless, as they are at the end of their term, and just not being renewed.
out of the TOTAL 2000 or less properties that SHLD has, about 1100 are KMART leases.
they have 51% of Canada .... they DONT own them !!! 1/2 of a 1/2 less expenses ,
WOW that's a real winner that is,
almost enough to cover this years store closings that they have ALREADY been PAID, and SPENT the $$
KCD is collateral boy, don't you understand that,
its a brand name that represents sears appliance service, Chinese tools, and who knows who's battery
the fact of what KCD actually is, makes it a hard sell
why pay for a Cadillac when you are getting a bike
February we see what Bankruptcy remote means " that's were KCD is "