United Airlines adding service from MHT to Washington/Dulles hub
Uber IPO proposals value company at $120-billion
United States judge approves SEC settlement with Musk
Trump warns Honduras over migrants heading toward U.S. border
Modi urges oil suppliers to review payment terms to give rupee relief
Retail Giant Sears On Brink Of Bankruptcy, Owes $5B To Creditors
11 October 2018, 02:45 | Hattie Nash
Sears store in Garden City NY. REUTERS Shannon StapletonMore
The committee has been resisting the plan amid concerns that creditors and shareholders would sue over it being too favorable for Lampert.
Representatives from Sears didn't immediately return requests for comment.
He writes that Sears occupies a significant amount of space, but that about three-quarters of its stores are outside the U.S.'s Top 50 markets, so while many landlords rent space to the retailer, that exposure is relatively small. The company has a total of about $5.6 billion in outstanding debt and is down to about 820 Sears and Kmart stores. The boutique advisory firm, New-York based M-III Partners, has spent the past few weeks working on the filing, the Journal reported.
Shares of Sears, which traded as high as $144 over a decade ago, closed Tuesday at 59 cents, a sign that investors are bracing for a potential bankruptcy filing or restructuring. CNBC earlier reported that the company was arranging a bankruptcy loan, known as debtor-in-possession financing.
Pixel Slate Marks Google’s Return To Tablets But Without Android
The nod to privacy concerns comes as Google and other big USA tech companies try to bounce back from recent data breach scandals. The Pixel 3 and Pixel 3 XL will be the first Pixel phones to launch in France at the same time as the US, FrAndroid explains.
The company separately said it named restructuring expert Alan Carr to its board of directors.
The handwriting is on the wall: Sears appears to be nearing bankruptcy. It could attempt to emerge as a profitable company.
Sears, once the world's largest retailer, has struggled in the face of declining foot traffic in its stores.
The Wall Street Journal quoted sources saying Lampert wants to restructure and is anxious that a bankruptcy filing will lead to a liquidation, which has happened with so many retailers, the most recent being Toys R Us. But its declines goes back decades, well before the growth of online shopping that threatens traditional brick-and-mortar retailers.
Lampert's efforts to keep Sears out of bankruptcy have included shedding hundreds of unprofitable stores: Sears and Kmart had some 3,500 locations when they merged under Lampert in 2005; now there are about 900 nationwide.
The company has taken a number of steps in recent days to prepare for a filing.
If Sears were to file for bankruptcy, its financial performance during the upcoming holiday season could prove crucial in determining its future, according to the sources. That's down from 317,000 United States employees in early 2006, soon after the merger.
Hurricane Michael Expected to Grow into a Major Hurricane
" Hurricane Michael is forecasted to be the most destructive storm to hit the Florida Panhandle in decades", Scott said. Bill Nelson, said a "wall of water" could cause destruction along the Panhandle. "We've got supplies to last us a week".
Google Quietly Launches Third-Gen Chromecast
It means the phone can have more screen real estate, without having to allow for a thicker bezel at the top of a phone. For example, you can have your Google Photos uploads automatically shown on the Hub like a fancy photo frame.
Google reveals the Pixel 3 and Pixel 3 XL
Gboard, the keyboard built into your Pixel 3, will recommend GIFs, stickers and more, to make your conversations fun and engaging. When it comes to performance and speed, the Pixel 3 XL and regular 3 are certain to be some of the best in the business.
British couple among six killed in Majorca flash floods
Public broadcaster TVE showed footage of flooded streets and overturned cars along the guardrails of a major road. The town of Sant Llorenc is around 60 kilometres east of Palma - the capital of the Mediterranean island.
XCloud : when Microsoft goes to the Cloud gaming
A new customisable blade hosts the component parts of multiple Xbox One consoles, as well as its associated infrastructure. Microsoft is now testing this service and it will be rolled out for pubic trials in 2019.
Twins’ Sano will not face charges for incident in DR
In an attempt to leave the scene, Sano ran over the officer's foot, breaking his fibula and tibia, the report said. The infielder was under investigation earlier this year after he was accused of sexual assault in December.