Houston Principal Hugh Ray contributed to a Financial Times article titled "Sears Races to Avoid Outright Liquidation After Bankruptcy Filing." The article discusses how liquidation could be unavoidable given Sears’ persistent failure to adapt successfully to upheaval in the industry. When speaking to the Financial Times, Hugh says, “Some of the lenders have sort of said, ‘You’ve had enough second chances — this is the end of the line’.”
The full article can be found here.