Multiple new sources are reporting that the long anticipated bankruptcy filing for Sears Holding may happen this week.
A $134 million dollar debt payment due this coming Monday may force the company into bankruptcy. On Tuesday Sears announced that The CEO of Drivetrain, an advisory firm for distressed companies had joined its Board. Sears Holding operates approximately 500 Sears and 360 Kmart stores.
While in the past Sears’ CEO Eddie Lampert has provided funding from his own hedge fund, ESL Investments, to keep the company afloat, CNBC reports that Sears has contacted financiers to secured potential financing to keep it afloat in bankruptcy.
If you have a Sears lease or have outstanding Sears receivables, it is important to know your rights now. Stark & Stark’s Shopping Center & Retail Development Group can help.
Our bankruptcy attorneys regularly represent landlords throughout the country, including recently in the Eastern District of Missouri, District of New Jersey, Southern District of New York, District of Delaware, District of Minnesota and the Western and Eastern Districts of Pennsylvania regarding a variety of issues.
Our Group has been counsel to landlords and trade creditors in the Toys “R” Us, Payless, Eastern Outfitters (EMS Part 2), EMS, Golfsmith, RadioShack, General Wireless (RadioShack 2), Gander Mountain, A&P, Joyce Leslie, rue21, Central Grocers and Sports Authority chapter 11 bankruptcy cases.
For more information on how Stark & Stark can assist you, please contact Thomas Onder, Shareholder, at (609) 219-7458 or tonder@stark-stark.com or Joseph Lemkin at 6091-791-7022 or jlemkin@stark-stark.com.