The Briefing Room
General Category => Economy/Business => Topic started by: Applewood on April 24, 2018, 04:19:50 pm
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'This is all a sham': Ex-Sears executive says the CEO's new bid to revive Sears will kill off the 125-year-old retailer once and for all
Sears CEO Eddie Lampert wants to buy the retailer's most valuable assets — including its Kenmore brand — in a massive deal with his hedge fund, ESL Investments.
He made the offer in a letter to Sears' board of directors, saying the deal would extend Sears' timeline to turn around its business by providing a much-needed infusion of cash to pay off its debts. In addition to the Kenmore appliance brand, Lampert is proposing that his hedge fund buy Sears' home-improvement business, Parts Direct division, and even the company's real estate.
One of Lampert's most outspoken critics says such a deal would kill off the 125-year-old retailer by stripping the company of its most valuable brands and real estate, leaving it with nothing but a failing retail business.
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Excerpt. More at:
http://www.businessinsider.com/sears-ceo-plan-to-buy-kenmore-and-real-estate-bankruptcy-chances-2018-4 (http://www.businessinsider.com/sears-ceo-plan-to-buy-kenmore-and-real-estate-bankruptcy-chances-2018-4)