U.S. footwear and apparel company Nine West filed an amended Chapter 11 bankruptcy plan that will reduce its pre-bankruptcy debt obligations by more than $1 billion, the company said on Wednesday.
Oct 17- U.S. footwear and apparel company Nine West Holdings Inc filed an amended Chapter 11 bankruptcy plan that will reduce its pre-bankruptcy debt obligations by more than $1 billion, the company said on Wednesday. Nine West, which owns brands such as Anne Klein and Gloria Vanderbilt, said it will also receive a three-year purchase commitment from Belk Inc for...
Former Sears CEO Eddie Lampert speaks to 1,000 employees one day after the retail giant filed for bankrtupcy.
CNBC's Leslie Picker reports on what Sears' bankruptcy means for chairman and controlling shareholder Eddie Lampert and whether he actually made money on Sears while the retailer fell apart.
Sears will continue to operate through the holidays, as it looks to find a buyer for the business. It will also continue to evaluate its remaining stores' performance.
J.C. Penney has a store within a quarter mile of roughly 47 percent of Sears' locations, Gordon Haskett analyst Chuck Grom said in a note to clients. The department store is among those that can benefit from Sears' struggles.
The notion of "some turnaround or some transformation" plan in place since then is "just plain bogus," contends Mark Cohen.
The Chapter 11 filing to reorganize debts of the parent of Sears, Roebuck and Co and Kmart Corp follows a decade of revenue declines, hundreds of store closures, and years of deals by billionaire Chief Executive Officer Eddie Lampert in an attempt to turn around the company he acquired in 2005 for $11 billion. Lampert and his hedge fund ESL Investments Inc own just...
The 'Squawk on the Street' team discusses Sears filing for bankruptcy and Eddie Lampert, Sears Holdings CEO, stepping down.
CNBC's Andrew Ross Sorkin reports on Sears Holdings filing for bankruptcy early Monday morning and comments from outgoing Sears CEO Eddie Lampert.
Sears says liquidation sales are coming soon for 142 stores. It wasn't immediately clear which locations would be going dark.
*SEARS HOLDINGS CORPORATION FILES FOR CHAPTER 11 BANKRUPTCY IN U.S. BANKRUPTCY COURT IN SOUTHERN DISTRICT OF NEW YORK- COURT FILING. *SEARS HOLDINGS CORPORATION LISTS ASSETS OF $1 BILLION TO $10 BILLION; LIABILITIES OF $10 BILLION TO $50 BILLION- COURT FILING Further company coverage:.
Lampert will remain chairman as the nation's once dominant retailer tries to save itself.
Sears listed assets in the range of $1 billion to $10 billion and liabilities in the range of $10 billion to $50 billion, according to a court filing.
BANKRUPTCY COURT IN SOUTHERN DISTRICT OF NEW YORK- COURT FILING.
Sears Holdings plans to file for bankruptcy protection after midnight, people familiar with the situation tell CNBC.
Oct 14- Sears Holdings Corp CEO Eddie Lampert has stepped in to contribute towards a financing package of between $500 million and $600 million that the U.S. department store operator was close to securing on Sunday to fund operations during bankruptcy proceedings, people familiar with the matter said. Lampert, who is also the company's largest shareholder...
Sears Holdings is on the verge of filing for bankruptcy after 125 years in business, closing a chapter in the company's long-and-storied history. Here's how one of America's most recognizable brands fell into decline.
Oct 12- Sears Holdings Corp is planning to close up to 150 of its department and discount stores and keep at least another 300 open as part of a plan to restructure under U.S. bankruptcy protection, people familiar with the matter said Friday. The beleaguered 125- year-old retailer, once the largest in the United States, hopes to sell stores and other assets,...
Sears plans to file for bankruptcy as soon as this weekend. It has roughly 900 stores and employs roughly 90,000 workers.