Sears

Forever 21 Scaling Back Global Ambitions in Bankruptcy Plan
Credit & Capital

Forever 21 Scaling Back Global Ambitions in Bankruptcy Plan

The "fast fashion" retailer said it would close stores in Canada, Europe, and Asia but continue operations in Mexico and Latin America.
By Vincent Ryan | September 30, 2019
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Sears Owner Seeks to Opt Out of Severance Payments
Human Capital

Sears Owner Seeks to Opt Out of Severance Payments

Eddie Lampert had promised to pay $43 million to former workers.
By Lauren Muskett | May 30, 2019
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Sears Accuses ex-CEO of Looting $2B in Assets
Risk & Compliance

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.
By Matthew Heller | April 19, 2019
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PBGC to Oversee Sears Pension Plans
Retirement Plans

PBGC to Oversee Sears Pension Plans

The pension insurance fund is stepping in because “it is clear that Sears’ continuation of the plans is no longer possible.”
By Matthew Heller | January 22, 2019
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Chairman Lampert Wins Auction to Save Sears
Bankruptcy

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.
By Matthew Heller | January 17, 2019
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Sears Eyeing Chapter 11 With Debt Payment Due
Bankruptcy

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.
By Matthew Heller | October 10, 2018
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Sears CEO Proposes $1.1B Debt Restructuring
Corporate Finance

Sears CEO Proposes $1.1B Debt Restructuring

Eddie Lampert says the retailer must act "without delay" to address “significant near-term liquidity constraints."
By Matthew Heller | September 24, 2018
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Sears Reviewing Sale of Kenmore, Other Assets
M&A

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.
By Matthew Heller | May 14, 2018
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PBGC OKs Sears Asset Sales for Pension Relief
Retirement Plans

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.
By Matthew Heller | November 8, 2017
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Cost-Cutting Narrows Sears’ Loss to $251M
Financial Performance

Cost-Cutting Narrows Sears’ Loss to $251M

The retailer's Q2 results were "a little bit heartening, but still left some open areas of worry," including another double-digit comp sales decline.
By Matthew Heller | August 25, 2017
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Accenture Offloads Pension Liability
Retirement Plans

Accenture Offloads Pension Liability

The deal comes as insurers are buying pension plans at a record rate.
By William Sprouse | June 23, 2017
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Sears Cutting Corporate Office Jobs
Risk

Sears Cutting Corporate Office Jobs

The job cuts are part of the ailing retailer's goal to shave $1.25 billion off annual operating costs.
By William Sprouse | June 13, 2017
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Lands’ End Loss Widens But Comp Sales Rise
Financial Performance

Lands’ End Loss Widens But Comp Sales Rise

The retailer sees the 2.1% gain in same-store sales as a sign "we are making the right decisions as we work to drive the business forward.”
By Matthew Heller | June 6, 2017
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Sears Swings to Profit But Sales Slide Continues
Financial Performance

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."
By Matthew Heller | May 26, 2017
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Riecker Named Sears’ Third CFO in Past Year
Strategy

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.
By Matthew Heller | April 24, 2017
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