U.S. government and creditors seek to block Lampert’s deal for Sears
January 31, 2019
The U.S. government, mall owners and other creditors are making a joint push to block a deal by ESL Investments, controlled by Sears Holdings chairman Eddie Lampert, from gaining the control of the company coming out of bankruptcy. Those opposing the deal, which would keep around 400 locations open, argue that it is just another move to strip Sears of its assets with most of the proceeds going to Mr. Lampert while pensioners, employees and creditors would get stiffed.
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