/raid1/www/Hosts/bankrupt/TCR_Public/191130.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, November 30, 2019, Vol. 23, No. 333

                            Headlines

SEARS HOLDINGS: Gains $800 Million Net Income at August 3
SEARS HOLDINGS: Net Income Decreases to $8 Million at Aug. 31

                            *********

SEARS HOLDINGS: Gains $800 Million Net Income at August 3
---------------------------------------------------------
Sears Holdings Corporation, et al., filed with the U.S. Securities
and Exchange Commission their monthly operating report for July 7,
2019 through August 3, 2019.

The Debtors' consolidated statement of operations showed a net
income of $800 million on $nil of total revenues for the current
reporting period.

As of August 3, 2019, the Debtors listed $238 million in
consolidated total assets, $6.58 billion in consolidated total
liabilities, and a $6.35 billion in consolidated total
shareholders' deficit.

The Debtors listed total cash receipts of $8.25 million and total
cash disbursements of $1.26 million for the period.

A copy of the monthly operating report is available at the SEC at:

                     https://is.gd/8zKIzx

                     About Sears Holdings

Sears Holdings Corporation (OTCMKTS: SHLDQ) --
http://www.searsholdings.com/-- began as a mail ordering catalog
company in 1887 and became the world's largest retailer in the
1960s.  At its peak, Sears was present in almost every big mall
across the U.S., and sold everything from toys and auto parts to
mail-order homes.  Sears claims to be is a market leader in the
appliance, tool, lawn and garden, fitness equipment, and automotive
repair and maintenance retail sectors.

Sears and Kmart merged to form Sears Holdings in 2005 when they had
3,500 US stores between them. Kmart emerged in 2005 from its own
bankruptcy.

Unable to keep up with online stores and other brick-and-mortar
retailers, a long series of store closings has left it with 687
retail stores in 49 states, Guam, Puerto Rico, and the U.S. Virgin
Islands as of mid-October 2018.  The Company employs 68,000
individuals, of whom 32,000 are full-time employees.

As of Aug. 4, 2018, Sears Holdings had $6.93 billion in total
assets, $11.33 billion in total liabilities and a total deficit of
$4.40 billion.

Unable to cover a $134 million debt payment due Oct. 15, 2018,
Sears Holdings Corporation and 49 subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 18-23538) on Oct. 15,
2018.

The Hon. Robert D. Drain is the case judge.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel;
M-III Partners as restructuring advisor; Lazard Freres & Co. LLC as
investment banker; DLA Piper LLP as real estate advisor; and Prime
Clerk as claims and noticing agent.

The U.S. Trustee for Region 2 appointed nine creditors, including
the Pension Benefit Guaranty Corp., and landlord Simon Property
Group, L.P., to serve on the official committee of unsecured
creditors.  The committee tapped Akin Gump Strauss Hauer & Feld LLP
as legal counsel; FTI Consulting as financial advisor; and Houlihan
Lokey Capital, Inc. as investment banker.

The U.S. Trustee for Region 2 on July 9, 2019, appointed five
retirees to serve on the committee representing retirees with life
insurance benefits in the Chapter 11 cases.

                         *     *     *

In February 2019, Bankruptcy Judge Robert Drain granted Sears
Holdings approval to sell the business to majority shareholder and
CEO Eddie Lampert for approximately $5.2 billion.  Lampert's ESL
Investments, Inc., has won an auction to acquire substantially all
of Sears' assets, including the "Go Forward Stores" on a
going-concern basis.  The proposal will allow 425 stores to remain
open and provide ongoing employment to 45,000 employees.


SEARS HOLDINGS: Net Income Decreases to $8 Million at Aug. 31
-------------------------------------------------------------
Sears Holdings Corporation, et al., filed with the U.S. Securities
and Exchange Commission their monthly operating report for August
4, 2019 through August 31, 2019.

The Debtors' consolidated statement of operations showed a net
income of $8 million on $nil of total revenues for August, as
compared to $800 million net income posted for the previous
reporting period.

As of August 31, 2019, the Debtors listed $222 million in
consolidated total assets, $6.58 billion in consolidated total
liabilities, and a $6.35 billion in consolidated total
shareholders' deficit.

The Debtors listed total cash receipts of $718,525 and total
cash disbursements of $895,375 for the current reporting period.

A copy of the monthly operating report is available at the SEC at:

                     https://is.gd/2dFbw9

                     About Sears Holdings

Sears Holdings Corporation (OTCMKTS: SHLDQ) --
http://www.searsholdings.com/-- began as a mail ordering catalog
company in 1887 and became the world's largest retailer in the
1960s.  At its peak, Sears was present in almost every big mall
across the U.S., and sold everything from toys and auto parts to
mail-order homes.  Sears claims to be is a market leader in the
appliance, tool, lawn and garden, fitness equipment, and automotive
repair and maintenance retail sectors.

Sears and Kmart merged to form Sears Holdings in 2005 when they had
3,500 US stores between them. Kmart emerged in 2005 from its own
bankruptcy.

Unable to keep up with online stores and other brick-and-mortar
retailers, a long series of store closings has left it with 687
retail stores in 49 states, Guam, Puerto Rico, and the U.S. Virgin
Islands as of mid-October 2018.  The Company employs 68,000
individuals, of whom 32,000 are full-time employees.

As of Aug. 4, 2018, Sears Holdings had $6.93 billion in total
assets, $11.33 billion in total liabilities and a total deficit of
$4.40 billion.

Unable to cover a $134 million debt payment due Oct. 15, 2018,
Sears Holdings Corporation and 49 subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 18-23538) on Oct. 15,
2018.

The Hon. Robert D. Drain is the case judge.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel;
M-III Partners as restructuring advisor; Lazard Freres & Co. LLC as
investment banker; DLA Piper LLP as real estate advisor; and Prime
Clerk as claims and noticing agent.

The U.S. Trustee for Region 2 appointed nine creditors, including
the Pension Benefit Guaranty Corp., and landlord Simon Property
Group, L.P., to serve on the official committee of unsecured
creditors.  The committee tapped Akin Gump Strauss Hauer & Feld LLP
as legal counsel; FTI Consulting as financial advisor; and Houlihan
Lokey Capital, Inc. as investment banker.

The U.S. Trustee for Region 2 on July 9, 2019, appointed five
retirees to serve on the committee representing retirees with life
insurance benefits in the Chapter 11 cases.

                         *     *     *

In February 2019, Bankruptcy Judge Robert Drain granted Sears
Holdings approval to sell the business to majority shareholder and
CEO Eddie Lampert for approximately $5.2 billion.  Lampert's ESL
Investments, Inc., has won an auction to acquire substantially all
of Sears' assets, including the "Go Forward Stores" on a
going-concern basis.  The proposal will allow 425 stores to remain
open and provide ongoing employment to 45,000 employees.


                            *********

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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
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Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
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Copyright 2019.  All rights reserved.  ISSN: 1520-9474.

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