The time for retail nostalgia is over. Now, for Sears, comes the bankruptcy process — and as reported on Monday (Nov. 5), the chain, according to Reuters, “is nearing a deal with new lenders to increase a bankruptcy financing package to as much as $600...
In a formal proposal, ESL Investments said it was seeking to purchase Sears Holdings’ Kenmore brand, as well as the retailer’s home improvement unit. ESL Investments is a hedge fund controlled by the chief executive of Sears Holdings, Eddie Lampert, Retail Dive reported. The hedge...
As Sears Holdings grapples with falling sales, the retailer is expecting to close an additional 72 stores. Those planned closures are in addition to the hundreds of brick-and-mortar locations the retailer has already shuttered, The Wall Street Journal reported. The retailer faces competition from Amazon,...
Last month, investor and CEO of Sears Holdings Corp., Eddie Lampert, said his hedge fund ESL Investments was interested in bidding on some of the retailer’s units. Sears has since announced the creation of a committee to look into the sale of its Kenmore brand, along...
April 18, 2019
In the wake of the retailer’s bankruptcy, Sears Holdings Corp. has filed a lawsuit against former CEO Eddie Lampert, along with ESL Investments and former directors. The suit comes following Lampert’s February purchase of most of its assets for $5.2 billion, Reuters reported. The company alleges that Lampert had financial plans made to look as if […]
August 16, 2018
In a formal proposal, ESL Investments said it was seeking to purchase Sears Holdings’ Kenmore brand, as well as the retailer’s home improvement unit. ESL Investments is a hedge fund...
May 31, 2018
As Sears Holdings grapples with falling sales, the retailer is expecting to close an additional 72 stores. Those planned closures are in addition to the hundreds of brick-and-mortar locations the...
May 15, 2018
Last month, investor and CEO of Sears Holdings Corp., Eddie Lampert, said his hedge fund ESL Investments was interested in bidding on some of the retailer’s units. Sears has since announced...
