For years, Sears Chairman (and once CEO) Eddie Lampert helped Sears limp along a retail landscape it once dominated. And now as it faces the potential end, he’s still not ready to give it up, even if that means only salvaging the pieces.
Sears first filed for bankruptcy in October, and Lampert submitted a $4.6 billion bid (through ESL) in early December for Sears, its real estate and brands like Kenmore and its Sears Auto Services. But many, including workers rights activists and creditors alike, balked at the idea that Lampert, who was unable to turnaround the business so far, would be able to do so after bankruptcy.
