The_Overdog wrote:I'm not saying Beck is particularly credible, but Sears did just come out of bankruptcy per https://therealdeal.com/2022/11/08/sears-crawls-out-of-bankruptcy-in-tatters/ and per that article, Seritage is looking to sell it's assets individually due to the bankruptcy, because it got 0 offers on an attempt to sell the entire portfolio.
It's a bit more complicated than that.
Seritage is a completely separate, publicly-traded entity that was spun off from Sears prior to its bankruptcy. This was done in hopes of protecting Sears' former real estate from forced liquidation.
The decision to sell their property at Valley View was made before the shareholders voted to sell all of the entity's property last month.
It is true, however, that Eddie Lampert is Seritage's largest shareholder. It is also true that many of the institutions that were burned by Sears' bankruptcy also have a significant stake in Seritage.