Oct 10, · Sears has hired advisers to prepare for a Chapter 11 bankruptcy filing, according to a Wall Street Journal report. However, its CEO, Edward Lampert, would reportedly like to see if Sears Author: Paula Rosenblum. October 10, AM PDT Sears is preparing for a possible bankruptcy filing with the help of restructuring firm M-III Partners, according to the Wall Street Journal. The retail giant faces a Author: Lucas Laursen. Sears Files Ch. 11 In NY With Sale, Store Closing Plans Law (October 15, , AM EDT) -- Hours away from a major default and facing pressure to liquidate, Sears Holdings Corp. took its.
Schrock, P. Garrett A. Fail Jacqueline Marcus Sunny Singh. Colin M. Adams Brian Griffith. Ira S. Dizengoff Philip C. Dublin Abid Qureshi Sara L. Paul Schwartzberg Richard Morrissey.
Repeats Daily Weekly Monthly. Repeat Every 1 2 3 4 5 Days Weeks Months. Repeat By day of the month. Starts On. Time every half-hour. Ends Never After Occurrences On. Case No. Lampert et al Adv. Sears Holdings Corporation, et al. Sears Holdings Corporation et al Adv. Recipients e. Log In. Your username or password is incorrect. Please try again or contact your case team to reset your password. Old Password Enter your old password. New Password Minimum of 6 characters.
Re-enter Password Password must match previously entered new password. Change Password. Sears Holdings Corporation Case No. Case Navigation. Quick Links. Voluntary Petitions Admin Exp. Lampert et al. The fact that you have received the Bar Date Notice does not mean that you have a claim or that the Debtors believe that you have a claim.
The Bar Date Notice lists who must file a proof of claim, and who need not file a proof of claim. Please read the Bar Date Notice carefully.
You should consult an attorney if you have any questions, including whether you should file a proof of claim. Prime Clerk is not permitted to provide legal advice, including advising as to whether or not you should file a proof of claim. Dates June 17 Omnibus Hearing a. ET Notice of Hear Add to Calendar. July 15 Omnibus Hearing a. June 17 Omnibus Hearing a. ET Notice of Agen October 15 p. ET October 25 p.
November 1 p. November 15 a. November 19 p. November 20 p. December 13 p. Fail on behalf of Sears Holdings Corporation. December 18 a. December 20 a. January 18 a. February 4 a. February 14 a. March 21 a. April 10 p. Governmental Proofs of April 18 a. May 21 a. The company has stores and about 68, employees. Eddie Lampert, who has kept the company alive with a series of debt deals but faced criticism for lacking a clearcut turnaround strategy, has resigned as CEO but remains chairman.
He is also the company's largest investor. Bankruptcy will allow Sears to "strengthen its balance sheet, enabling the Company to accelerate its strategic transformation, continue right sizing its operating model, and return to profitability," Lampert said in a statement.
The company's board created an "Office of the CEO" to lead the company, including the chief financial officer and chief digital officer. Meghji, will help lead the bankruptcy and report to a newly created board committee. More: Timeline: Sears' rise and fall. More: How bad off is Sears Holdings? Worse than you think. To many, the demise of Sears demise seemed inevitable, if not always imminent, in recent years as the company slowly collapsed.
The retailer has announced round after round of store closures, amounting to several hundred in recent years. It also sold off its signature Craftsman brand and sought to renegotiate the terms of its massive debt. Lampert propped up the company for years with multiple rounds of debt financing. But critics say he arranged the deals to put his hedge fund at the front of the line to collect debt payments and key assets as the company downsized. Lampert's fund is also negotiating a deal to potentially serve as a lead bidder for "a large portion of the company's store base," Sears said.
More: Sears 'must act immediately' to extend life, Lampert's fund says. More: Sears, Kmart closing more stores as retailer's struggles continue. Sears was the Amazon of its day. Think about the Sears catalog. Much like defunct department store chains of old, such as Montgomery Ward and Mervyn's, Sears lost its grip on American shoppers as niche retailers provided alternatives to shoppers.. In the short term, that move likely made sense, industry watchers said, but the retailer gave away a stream of cash that could have helped it down the line.