Retail News

Creditors call chairman’s winning bid for Sears part of ‘years-long scheme’

MarketWatch 01/17/2019

A group of creditors for Sears Holdings are disputing a winning bid placed by Eddie Lampert’s hedge fund to keep the retailer and about 400 of its stores operating. The bid, which was approved by a bankruptcy court judge, gave Mr. Lampert a pass to continue draining Sears Holdings for his personal profit at the expense of other stakeholders in the business, according to the creditors.

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