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| July 19, 2019

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Sears retirees fight life insurance termination

June 3, 2019 |

A group of retired Sears Holdings Corp. workers has asked for the creation of a committee to protect their interests, claiming the spouses of some retirees who recently died were deprived of life insurance payments earned from years of work at the iconic department store.

Lawyers for the retired…


L.A. Times – Business

Sears gets to stay in business: Bankruptcy judge OKs Eddie Lampert’s plan

February 11, 2019 |

A bankruptcy judge has blessed a $ 5.2-billion plan by Sears’ chairman and biggest shareholder to keep the iconic business going.

The approval means roughly 425 stores and 45,000 jobs will be preserved.

Eddie Lampert’s bid through an affiliate of his ESL hedge fund overcame opposition from a group…


L.A. Times – Business

Sears Lives to See Another Day

February 7, 2019 |

A bankruptcy judge has blessed a $ 5.2 billion plan by Sears chairman and biggest shareholder Eddie Lampert to keep the iconic business going, the AP reports. The approval means roughly 425 stores and 45,000 jobs will be preserved. Lampert’s bid through his ESL hedge fund overcame opposition from…
Newser

U.S. Pension Insurer Slams Lampert Bid for Sears

January 29, 2019 |

The Pension Benefit Guaranty Corp. says a $ 1.7 billion funding gap should sink Chairman Edward Lampert’s efforts to buy out the chain. It’s the latest and most influential creditor to oppose the sale.
WSJ.com: US Business

J.C. Penney Struggles to Avoid Same Fate as Sears

January 22, 2019 |

J.C. Penney sales are falling, senior executive slots remain vacant and the strategy keeps changing—leading analysts to ask: Is it too late for a turnaround?
WSJ.com: US Business

Sears dodges another bullet as Eddie Lampert wins bankruptcy auction

January 16, 2019 |

Sears Chairman Eddie Lampert has won a bankruptcy auction for the retailer with a plan that will keep the company in business and seek to save tens of thousands of jobs, according to a person with knowledge of the discussions.

Lampert’s bid prevailed over competing proposals from liquidators that…


L.A. Times – Business

Eddie Lampert sweetens his bid for Sears again, sources say

January 16, 2019 |

Sears Holdings Corp. Chairman Eddie Lampert presented a new bid Tuesday that included some concessions as talks to save the bankrupt retailer from liquidation continued, according to people with knowledge of the discussions.

The new offer — made by ESL Investments, Lampert’s hedge fund — includes…


L.A. Times – Business

Lampert uses Sears workers as fulcrum in renewed rescue package

January 14, 2019 |

Chairman Eddie Lampert’s revised plan to save Sears includes more severance for its workers, a move that could head off a debacle like the collapse of Toys R Us that left employees empty-handed and lenders being blamed and shamed.

It’s still unknown if the plan from Lampert’s ESL Investments Inc….


L.A. Times – Business

Sears’ Edward Lampert sweetens his bid to keep stores open, source says

January 10, 2019 |

Edward Lampert’s ESL Investments hedge fund has raised its bid to keep Sears Holdings Corp. in business with an offer of about $ 5 billion that would cover severance for workers and bills from its suppliers.

Advisors for the hedge fund crafted a bid that would commit ESL to cover more than $ 40 million…


L.A. Times – Business

Sears Gets Another Lifeline

January 9, 2019 |

Sears received another lifeline Tuesday when the company’s chairman and largest shareholder promised to line up the necessary financing to keep the struggling department store chain afloat. The reprieve came after what Sears lawyers described to a bankruptcy judge in New York as “round-the-clock” negotiations following the company board’s initial…
Newser