sean all the RE both Sears and K Mart had the RE assets stepped up on the merger. It is worth over 17% less now FYI.
rocket, the assets sales show they sell for less than book value overall, not more. Look at Sears Canada results of selling the stores.
Soon 100 million a year in rent too if they do the REIT. You know this EBITA stuff is nuts. You have to pay interest and taxes out of pocket. Depreciation is a real cost.
The lines will be completed by the Chairmans successor co.
the value of the RE is overbooked as the good stuff has been sold off and retail space has dropped over 17% since the RE was reassessed in 2005. Book is now overstted
his approval is about 8 times higher than the Republican Congress. Miss that Denny. Were was Reagan and W this time in their Presidency
They are about out of cash come Friday?
Operating loss was actually worse y/y and if they repaid the payday loan they would have been out of cash.Other than that it s great.
It is really bad now.
I would not hoping SEARS can sell off the real estate to repay them
Look at the change in amounts due SHLD and prepaid expenses, down 240M. But for those changes they would be out of cash NOW. Running on fumes.
Who wants to own a REIT who's tenants are only Sears stores. Good chance this never happens. No one in good faith can promote this offering. Rents will have to be absurd to cover the risk of BK.
No legitimate organization cannot promote the REIT offering and not face potential litigation going forward.