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Nov. 3, 2011, 10:24 AMSyms (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. | Comment!
Nov. 2, 2011, 9:10 AMDiscount clothier Syms (SYMS) files for bankruptcy after receiving no "viable bids" in an attempt to sell the company. Syms, which operates 46 stores under Filene’s Basement and its namesake brand in the U.S., says it plans to liquidate the business during the holiday season. SYMS -43.3% premarket. | 4 Comments
May. 27, 2011, 3:27 PMDiscount clothier Syms (SYMS) is looking to explore strategic alternatives including a potential sale, but some investors worry because the company appears inclined only to sell itself as a whole, rather than cutting individual deals for its valuable real estate - a plan that could benefit CEO Marcy Sims at the expense of shareholders. | Comment!
Jun. 11, 2008, 10:33 AM
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