Hints and tips:
...The new lawsuit centres on a series of transactions involving Sears and Mr Lampert, who created the modern-day company when he engineered an $11bn merger of Sears and discount store rival Kmart in 2004....
...His proposal would keep 425 Sears and Kmart stores open and he has highlighted it could preserve up to 50,000 jobs....
...His plan could keep 425 Sears and Kmart stores open and preserve up to 50,000 jobs. Without it, the company could be heading for an outright liquidation....
...Mr Lampert, the hedge fund manager once the toast of Wall Street, in 2004 famously acquired Sears and Kmart, another chain....
...The asset purchases agreed by Judge Drain are the latest in a series of transactions between the retailer and its chairman since he orchestrated an $11bn merger of Sears and discount store rival Kmart in...
...The bid, made before a Friday afternoon deadline set by the bankruptcy court, could keep 425 Sears and Kmart stores open and preserve the jobs of up to 50,000 of their staff....
...If it is approved, the plan would be the latest in a series of transactions between the retailer and Mr Lampert since he orchestrated an $11bn merger between Sears and discount store rival Kmart in 2004....
...Mr Lampert was similarly vexed by fees in 2004 when he acquired Kmart, which he merged with Sears....
...About 500 Sears and Kmart stores, along with the US company’s well-known brands including Kenmore appliances and DieHard batteries, would be swept up by Mr Lampert’s hedge fund ESL under the proposal....
...The company said on Thursday it aimed to save another $100m by pursuing “greater consolidation” of corporate and support functions at Sears and Kmart....
...In 2005, with magazines tipping him as a new Warren Buffett, Mr Lampert merged Kmart with Sears, whose pioneering catalogues and department stores had shaped American consumerism....
...The US president is 72, and that is the biggest problem facing Eddie Lampert, the hedge fund manager who has run Sears since merging it with Kmart 13 years ago: most subsequent generations of Americans don...
...Sears, which also operates Kmart, is to close 142 stores by the end of the year as part of an agreement with creditors....
...Changing consumer behaviour has left other tenants in malls that host Sears and Kmart stores struggling, too....
...Sears Holdings, created by a combination engineered by Mr Lampert in 2004 of Sears and Kmart, another big-box department store chain, has racked up more than $10bn in losses since the turn of the decade....
...The company, which has closed hundreds of its Sears and Kmart stores in recent years, would also pursue additional property sales to repay $1.5bn worth of its debt....
...The company, which also owns Kmart, reported a net loss of $424m in the three months to May 5, compared to a profit of $245m in the same period a year earlier amid sliding sales and hefty interest payments...
...Sliding sales and rising interest expenses on its debt pile dragged the owner of the Sears and Kmart chains to a net loss of $424m in the three months to May 5, compared with a profit of $245m in the same...
...Analysts were looking for a steeper decline of 16.4 per cent across the company, or 16 per cent at Sears and 17 per cent at Kmart, per Thomson Reuters data....
...Once one of the America’s largest and most storied retailers, Sears — which also owns Kmart — has been relentlessly pummeled by the evolving retail environment, as more consumers eschew traditional brick-and-mortar...
...Sears closed several hundred stores in 2017 and had previously announced last year plans to close another 63 Kmart and Sears stores in late January....
...ESL assumed control of Kmart in 2003 after the retailer went through bankruptcy proceedings, and combined it with Sears two years later....
...At Kmart, which is part of the department store group Sears, Mr Wood had “successfully transformed the customer value proposition and retail operating model, returning the business to sustainable profit...
...Within this, the gauge was down 13 per cent at Kmart and down 17 per cent at Sears, as the company closed down in-store pharmacies and cut back on the range of consumer electronic products it sells in those...
...Our readers may be asking - who is doing well in this environment to offset the struggles of Sears, Kmart and Radioshack?...
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