Sears Advisers Have Racked Up $200 Million in Fees as Vendors Await Payment
After paying over $200 million in fees to restructuring professionals, Sears doesnt have much left to settle accounts with suppliers and employees https://www.wsj.com/articles/sears-advisers-have-racked-up-200-million-in-fees-as-vendors-await-payment-11579170603?shareToken=st6b94202a389740039875cbae963fcc35
via @WSJ
PRO BANKRUPTCY BANKRUPTCY
Sears Advisers Have Racked Up $200 Million in Fees as Vendors Await Payment
The law requires bankruptcy lawyers to be paid in full, leaving Sears with little to pay suppliers and employee severance
By Soma Biswas
Jan. 16, 2020 5:30 am ET
Suppliers that stocked the shelves during Sears Holdings Corp.s bankruptcy are being forced to swallow losses and some employees wont get severance they are owed, even as law firms are guaranteed full payment for their work on the retailers chapter 11 case.
A year after the storied retailer sold its best stores and assets to ESL Investments...
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