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.
Recent News
Tesla Accelerates the Launch of More Budget-Friendly EVs
As a result of the rapid revenue decline in the first quarter of this year, Tesla is channeling its efforts to launch more affordable EVs sooner than expected.
Congress Passed a Potential TikTok Ban, Influencers Are Worried About Their Careers
After Congress passed a potential TikTok ban, TikTokers expressed growing worry over the “devastating” impact it would have on their careers.
Merger Forces Kroger and Albertsons To Sell More Stores
Kroger and Albertsons are selling more of their stores to address concerns about their merger.
JD Sports Bids for Hibbett in $1.08 Billion Deal
JD Sports Fashion plans to buy Hibbett Inc. for around $1.08 billion. The move aims to help the UK’s largest sportswear retailer grow in the southeastern United States.