The Sears comparison is excellent Sigfrid, exactly what is happening, they are selling off assets to buy time but their structural deficit remains and is catching up with them.
The sale of Brooklyn property only provided a very short respite. Even if we assume they got 2 billion dollars from the sales (probably closer to 1 billion) and it only cost 500 million to relocate to Warwick. That leaves 1.5 billion. If their annual running costs are around 2 billion (as indicated by various comments by Lett, possibly higher) then that means the sale of Brooklyn properties would cover running costs for less than one year.