Sears Owner Seeks to Opt Out of Severance Payments
Eddie Lampert had promised to pay $43 million to former workers.
Sears Accuses ex-CEO of Looting $2B in Assets
The bankrupt retailer alleges Eddie Lampert and other investors siphoned off assets for their own gain through fraudulent spinoffs and other deals.
Chairman Lampert Wins Auction to Save Sears
The bankrupt retailer's "hand has not changed and the cards it holds are not winning ones," an analyst says.
Sears Eyeing Chapter 11 With Debt Payment Due
"This is the inevitable end game of an effective liquidation process that has been going on for many years," a retail analyst says.
Sears CEO Proposes $1.1B Debt Restructuring
Eddie Lampert says the retailer must act "without delay" to address “significant near-term liquidity constraints."
Sears Reviewing Sale of Kenmore, Other Assets
The proposed sale to CEO Eddie Lampert's hedge fund would further his goal of making Sears an "asset light" business.
Sears Takes More Steps to Shore up Finances
If the refinancing effort is not successful, the company "will consider all other options" to maximize asset value.
Sears Narrows Loss But Comp Sales Drop 15%
While store closures helped Sears cut its third-quarter loss by nearly $200 million, "the fundamental economics of the business do not add up."
PBGC OKs Sears Asset Sales for Pension Relief
The lifting of a "ring-fencing" restriction will allow the embattled retailer to raise $407 million to contribute to its underfunded pension plans.
Sears Swings to Profit But Sales Slide Continues
"There's no turnaround. Anybody who suggests that that's the case... is suffering from a loss of reality."
Riecker Named Sears’ Third CFO in Past Year
The retailer's current controller takes over as finance chief as it struggles to restructure through asset sales and store closures.