SHLDQ - Assessing Survival Potential: Seritage Growth Properties

• Seritage Growth Properties was struggling with chronic losses long before COVID hit.
• With working capital running low, Seritage is racing to sell assets during a period of very low retail commercial transactions.
• Seritage's NOI has been on the decline for years despite significant renovation efforts.
• While SRG's assets are difficult to value, they are likely worth significantly less than they appear on its balance sheet.
• With its covenants broken, SRG may be headed to zero in the long-run.

For further details see: