Sears Bankruptcy Judge Approves Closing Sales at 142 Stores

Oct. 25, 2018, 7:28 PM

U.S. Bankruptcy Judge Robert Drain approved Sears’s bid to start store closing sales at 142 locations while it evaluates the fate of others.

”Clearly there is no objection,” Drain said, at a court hearing in White Plains, N.Y., Oct. 25, after the company announced it had resolved objections from landlords, consignors, and the U.S. Trustee.

The company’s lawyers said at the hearing that it will use Abacus Advisory Group to liquidate the first 142 stores, but that it may use another firm for any other stores it decides to close.

©2018 Bloomberg L.P. All rights reserved. Used with permission

To read the full article log in.

Learn more about a Bloomberg Law subscription.