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Case Background
Sears Holdings Corporation and certain of its subsidiaries (collectively, the "Company") have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The Company intends to use this process to position it to establish a sustainable capital structure, continue streamlining its operating model and grow profitably for the long term.
The Company expects to move through the restructuring process as expeditiously as possible and is committed to pursuing a plan of reorganization in the very near term as it continues negotiations with major stakeholders started prior to the announcement.
The cases are pending before the Honorable Robert D. Drain, and are jointly administered under Case No. 18-23538.