Seeking Alpha

Syms (SYMS) shares surged 27% yesterday and are up another 3% today, after declaring bankruptcy....

Syms (SYMS) shares surged 27% yesterday and are up another 3% today, after declaring bankruptcy. Huh? Turns out the company is worth more dead than alive; it believes the proceeds from liquidating its $236M in assets, which far exceeds its $94M debt load, will pay creditors in full and provide recovery to shareholders.
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