Monday , November 18 2019
Home / chile / Sears continues into a corkscrew – NOTICEL

Sears continues into a corkscrew – NOTICEL

The Sears US department store chain received a postponement settlement scheduled for today, after its chairman, Eddie Lampert, made an offer to acquire it and prevent it from closing at the end of the debt restructuring period.

According to the American network CNBC, which refers to sources close to Sears, the investment fund ELS Investments, owned by Lampert, presented an official proposal today, but does not guarantee that it will be accepted, since the directors now have a week – they said to sentence.

The details of the proposal are still unknown, although if it looks like the 4,600 million that Lampert made earlier this month, it may be rejected by the company's creditors.

Today, the company announced the closure of 80 stores across the country "as part of the Sears process to accelerate its strategic transformation and facilitate financial restructuring."

In addition to the 142 centers, which were closed in October, and to an additional 40 in November, the company will receive more than a third of all its stores in the United States.

The company, with 68,000 employees, filed for bankruptcy in October in a New York court after seven years of losses, which reached $ 11 billion.

With a 125-year history, Sears presented its bankruptcy plan after seven years of losses, which reached $ 11,000 million.

With this proposal, the company, which also owns the Kmart network, seeks to create a sustainable capital structure, be able to withstand the Christmas campaign and restructure the business.

In October, the US network announced a series of actions to reach a $ 300 million liquidity line, continue streamlining its operating model and “profitable growth in the long term” with a plan to close 188 stores between November and the end of the year.

Source link