Sears Chairman Eddie Lampert struck a $5 billion deal to buy the company out of bankruptcy, saying it would preserve 45,000 jobs.
Amid the headlines of stores closures and retail bankruptcies, it can be tough to accept that the U.S. consumer is doing just fine.
Sears' former CEO, Eddie Lampert says severance to workers has been paid, and he defends himself against criticism of his tenure as CEO.
"The failure to make those payments would amount to a broken promise on your part," Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez say.
Sears opens its first Home & Life stores and plans to open more as it looks for a fresh start after bankruptcy.
NEW YORK, April 18- Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt. Others sued include ESL President Kunal Kamlani; Bruce Berkowitz and his Fairholme...
NEW YORK, April 18- Sears Holdings Corp sued longtime former chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt. Others sued include ESL President Kunal Kamlani; Bruce Berkowitz and his Fairholme...
Sears filed a lawsuit against its former CEO Eddie Lampert, Treasury's Mnuchin, and others for allegedly stealing billions from the retailer.
NEW YORK, April 18- Sears Holdings Corp sued longtime Chairman Eddie Lampert, his hedge fund ESL Investments, and former directors including Treasury Secretary Steven Mnuchin, accusing them of allowing the retailer to be looted of billions of dollars before its October 2018 bankruptcy. Other defendants include Bruce Berkowitz and his Fairholme Capital...
Sears will open three Home & Life stores in May, in Anchorage, Alaska; Layette, Louisiana; and Overland Park, Kansas.
Sears is back into court, less than one month after emerging from bankruptcy protection.
Sears Chairman Eddie Lampert's $5.2 billion deal to buy the retailer is expected to save 425 stores and roughly 45,000 jobs.
Eddie Lampert's $5.2 billion deal to buy Sears out of bankruptcy, is the only deal that would stave off liquidation and save 45,000 jobs. But Sears plans more store closures and layoffs in 2019.
Unsecured creditors are objecting to Lampert's $5.2 billion deal to buy Sears out of bankruptcy, the only deal that would stave off liquidation.
Simon is grappling with an onslaught of store closures from tenants big and small, ranging from Sears to Starbucks' Teavana.
Former Sears, Roebuck and Co. Chairman and CEO Alan Lacy speaks to "Squawk on the Street" about what drove him to sell the company to Eddie Lampert.
Sears reached a roughly $5 billion deal with Chairman Eddie Lampert to keep the company and about 400 stores open.
Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion (4.04 billion pounds), allowing the 126-year-old retailer to keep its doors open, people familiar with the matter said Wednesday.
It could not be immediately determined whether Chairman Eddie Lampert will be able to pull together an offer for Sears that sufficiently addresses a prior bid's shortcomings.
As bankrupt Sears inches toward liquidation, Amazon on Monday became the most valuable public company in the world, surpassing Microsoft.