Latest Eddie Lampert News

The Amazon of its day, Sears' woes were years in the making

Oct. 16, 2018 12:06 AM EDT

Before there was Amazon — or, for that matter, Home Depot or Walmart or Kmart — there was Sears. From its beginnings as a mail-order watch business in Minneapolis 132 years ago, the company grew to become America's everything-under-one-roof store and the biggest retailer in the world. For...

Girdles and socket wrenches: Sears was the Amazon of its day

Oct. 15, 2018 5:16 PM EDT

Before there was Amazon — or, for that matter, Home Depot or Walmart or Kmart — there was Sears. From its beginnings as a mail-order watch business in Minneapolis 132 years ago, the company grew to become America's everything-under-one-roof store and the biggest retailer in the world. For...

The Latest: Whirlpool brushes off Sears bankruptcy

Oct. 15, 2018 1:59 PM EDT

NEW YORK (AP) — The Latest on the filing for bankruptcy protection by the Sears Holding Corp. (all times local): 1:15 p.m. Appliance maker Whirlpool says that it expects a "very limited impact" to its business from Sears' descent into bankruptcy protection. The company, known for refrigerators, washing...

Sears files for Chapter 11 amid plunging sales, massive debt

Oct. 15, 2018 1:43 PM EDT

NEW YORK (AP) — Sears filed for Chapter 11 bankruptcy protection Monday, with plans to shutter 142 unprofitable stores in the hopes that it can stay in business. The question now is whether a smaller version of the company that once towered over the American retail landscape can be viable. Sears, which...

With few seeing second act for Sears, company shares routed

Oct. 11, 2018 9:07 AM EDT

NEW YORK (AP) — Sears is being pummeled before the opening bell on a report that banks are pushing the 130-year-old retailer to liquidate. The report Thursday in The Wall Street Journal comes one day after stock in Sears Holdings Corp. tumbled 30 percent. Shares, which have fallen 86 percent this year,...

Sears names restructuring expert to board as debt is due

Oct. 9, 2018 1:59 PM EDT

NEW YORK (AP) — Sears Holdings Corp. is adding a restructuring expert to its board, suggesting the ailing retailer may be preparing to take significant actions to survive or to protect its remaining assets. The Hoffman Estates, Illinois, company, which also owns Kmart, said Tuesday it was bringing on board...

Sears CEO: Retailer needs to sell more real estate

Sep. 24, 2018 11:47 AM EDT

NEW YORK (AP) — The hedge fund owned by Sears Holdings Corp. CEO Eddie Lampert is urging the retailer's board to sell more of its real estate and restructure its debt, as it seeks to avoid bankruptcy. ES Investment Hedge Fund said Monday that Sears should sell $1.5 billion more in real estate and...

Sears to close another 46 unprofitable stores in November

Aug. 23, 2018 9:05 PM EDT

HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. is closing another 13 Kmart stores and 33 Sears stores as sales shrink and losses grow. The ailing company said Thursday that liquidation sales at the 46 unprofitable stores marked for closure will start Aug. 30, and the stores will close in November. The...