Sears Holdings (SHLDQ) appears set to survive for a while longer with the approval of the sale of most of its assets to Eddie Lampert. Although Sears has gotten yet another reprieve, it looks likely that this will just buy enough time for a more orderly liquidation over a few years.
Sears' own projections (during the bankruptcy case) called for a combination of increasing revenue and massive SG&A cuts just to get to modestly positive EBITDA. This seems unlikely given the nature of the cuts, which include a large reduction in marketing spend. The proposed