It appears Lampert has saved Sears. But not everyone is cheering. Creditors, some of which have been skeptical from the get-go, are reportedly organizing to throw a wrench in the plan, and workers rights activists are wary about whether Lampert will provide long-term stability for employees.
“While Lampert’s recent offer to include more than $40 million in severance pay for employees is a testament to the mounting call for justice by Sears and Kmart employees and the lasting impact of [the] successful Toys R Us fight, it is in no way a guarantee for employees whose livelihoods are at risk nor does it cover the ill-fated unsecured severance claims stuck in bankruptcy court,” according to a statement emailed to Retail Dive from the Organization United for Respect, which played a major role in the fight for Toys R Us employee severance after that retailer’s liquidation last year.
