Retail News

Lampert seeks court’s permission to leave Sears pensioners high and dry

USA Today 05/28/2019

Eddie Lampert, the former chairman and CEO of Sears Holdings and its largest investor before the company filed for bankruptcy, is looking to get out of a previous agreement to pay up to $43 million owed to pensioners who worked for the retail chain. Mr. Lampert claims he and his new company, Transform Holdco, which acquired parts of Sears Holdings, were not provided with “hundreds of millions of dollars of assets” that were intended to help make severance payments.

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