If Sears wants to avoid bankruptcy, it’ll practically have to pull a rabbit out of a hat. The company thinks it found a director who can help do the trick.
Time is running out for Sears. The bankrupt retailer could be forced to start the process of shutting down as soon as Tuesday if it doesn’t accept the only bid to save it.
After its journey through bankruptcy, Sears is getting ready to open its first batch of smaller stores that won’t carry clothing but will focus on appliances, mattresses and home services.
It appears that Sears will soon go the way of Toys“R”Us.
A bankruptcy judge has blessed a $5.2 billion plan by Sears chairman and biggest shareholder Eddie Lampert to keep the iconic business going.
Even if Sears is able to survive its bankruptcy proceedings this month, the retailer will continue to close down stores.
The hedge fund owned by Sears Holdings Corp. CEO Eddie Lampert is urging the retailer’s board to sell more of its real estate and restructure its debt, as it seeks to avoid bankruptcy.
Sears is getting another reprieve from liquidation after its chairman and largest shareholder revised his bid to save the iconic brand.
A Connecticut jury has awarded $1.6 million to a man who was seriously injured by a fork lift at a Sears warehouse in 2014.
Sears’ biggest shareholder has suggested the company sell its well-known Kenmore brand and some real estate holdings, offering itself as a potential buyer.