4 ms·
Involuntary bankruptcy is pretty rare in the USA, but Sears sounds like a good candidate for it. Kmart and Sears are obviously cruising towards Chapter 7 or 11.
by kevmo 8y ago
Involuntary bankruptcy is pretty rare in the USA, but Sears sounds like a good candidate for it. Kmart and Sears are obviously cruising towards Chapter 7 or 11. If I were a sizable creditor, I would rather get the company into bankruptcy court early, before the CEO was able to pillage all the cash holdings.
(Source: I'm a former bankruptcy lawyer)
- anoncoward111 8y agoDoes he just straight up bonus it to himself in this scenario or does he like funnel Sears contracts (for example like employee toilet paper or something) to businesses that he owns 100% privately, like "EDDIE'S PAYPA FUHFILFMENT CO. INC."?