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Business Eddie Lampert

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in its sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close stores as it restructures its operations, following years of declining sales as it has lost customers to big-box retailers, more nimble apparel companies and online merchants. Existing lenders have agreed to provide up to C $450 million in interim financing to help the company,...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it obtained court protection against creditors to proceed with a restructuring that will include store closures and layoffs as it seeks to recover from years of declining sales. Existing lenders have agreed to provide up to C $450 million in interim financing to help the company, controlled by billionaire...

  • TORONTO, June 22- Sears Canada Inc said on Thursday that it had filed for court protection against creditors as the retailer controlled by billionaire Eddie Lampert pursues a plan to restructure its operations. Sears Canada said in a statement that it was seeking protection so it could concentrate on a long-term effort to focus on selling discounted designer...

  • A Sears store in Toronto on its last day of operations in 2014.

    Trading in Sears Canada was halted on Thursday, two days after reports the Canadian retailer was preparing to seek court protection against creditors.

  • June 22- Trading in the U.S.-listed shares of Sears Canada Inc was halted on Thursday pending news, two days after reports the Canadian retailer was preparing to seek court protection against creditors in the coming weeks. The retailer, controlled by billionaire Eddie Lampert, last week flagged doubts about its ability to continue as a going concern and said it...

  • June 13- Billionaire Eddie Lampert- controlled Sears Canada Inc flagged doubts about its ability to continue as a going concern and said it was exploring strategic options, including a sale of the company, following years of losses and falling sales. The company was valued at about C $51 million at its lowest stock price on Tuesday, a far cry from the C $1.18 billion...

  • June 13- U.S. retailer Sears Holdings Corp said on Tuesday it would cut 400 full-time jobs at its headquarters in Illinois as part of its plan to save more than $1 billion in costs annually. Sears said the bulk of the layoffs were related to its corporate workforce at its Hoffman Estates, Illinois headquarters. Sears said on Tuesday cost-cutting efforts had helped...

  • Earlier this week, Sears updated a blog post to reflect that it settled a dispute with One World Technologies, another Craftsman partner.

  • A man walks by a Sears store.

    Sears today updated Chairman and CEO Eddie Lampert's May 15 blog post with a notice that the dispute with One World Technologies was resolved.

  • *Q1 costs plunge 30.6 pct to $4 bln. Quarterly sales, however, continued their years-long decline, while the company's cash balance fell to $264 million as of April 29 from $286 million at Jan. 28. Sears, which sold its Craftsman tools brand to Stanley Black& Decker in March, said it had cut up to $700 million in costs to date since February as part of a program to reduce...

  • Quarterly sales, however, continued their years-long decline, while the company's cash balance fell to $264 million as of April 29 from $286 million at Jan. 28. Sears, which sold its Craftsman tools brand to Stanley Black& Decker Inc in March, said it had cut up to $700 million in costs to date since February as part of a program to reduce costs by $1.25 billion.

  • People walk by a Sears store in a nearly-empty Westfield Meriden shopping mall on March 28, 2017 in Meriden, Connecticut.

    Sears' total first-quarter sales declined 20.3 percent, to $4.30 billion, coming in slightly higher than what analysts were anticipating.

  • A trader stands out in front of the New York Stock Exchange in New York City.

    These are the stocks posting the moves after the bell.

  • Sears, which has been shuttering stores to boost its bottom line, announced more steps to get its house in order, USA Today reports.

  • A man walks by a Sears store.

    Edward S. Lampert is facing the downfall of two of his business, according to a report by The New York Times.

  • A man walks by a Sears store.

    Retailer Sears Holdings has struggled with years of losses and declining sales.

  • WILMINGTON, Del., Feb 9- Sears Holding Corp's chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain's best stores. The settlement must be approved by Delaware's Court of Chancery. Seritage then paid $2.6...

  • WILMINGTON, Del., Feb 9- Sears Holding Corp's chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain's best stores. The settlement must be approved by Delaware's Court of Chancery. Seritage then paid $2.6...