Sears Bankruptcy Is In Chaos

About: Sears Holdings Corp. (SHLDQ), Includes: SHOS
by: WYCO Researcher
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WYCO Researcher
Special situations, research analyst, value, long/short equity

Reorganization plan is due April 15.

Wind-down account has $93 million.

Professional fees are way over budget.

Sears Holdings seems to be "administratively insolvent".

Investors are waiting to see how the $35 million payment for releases will be allocated under a reorganization plan.

The Ch.11 bankruptcy of Sears Holdings Corp. (OTCPK:OTCPK:SHLDQ) has become even more confusing and chaotic. A reorganization plan is supposed to be filed by the end of the day April 15, but not