Sears’ chairman Eddie Lampert is offering to buy the entire chain out of bankruptcy and to preserve some 50,000 jobs. The $4.6 billion preliminary bid by his ESL Investments represents a last-ditch effort to rescue the iconic retailer from liquidation. But ESL first needs to be cleared of an unsecured creditors investigation that it improperly siphoned funds from the company in the first place.
Eddie Lampert has lobbed a $4.6 billion bid to take Sears private. It's the latest in a long, long string of efforts by him to prevent this thing from going under. Do you think this will rewrite Sears' future? I do not, because it doesn't solve Sears' essential problem, which is that it's an unappealing place to shop. https://lnkd.in/dG4fPd2
Would we argue that once upon a time Sears had a connection to its customers, customers at least knew that Sears did some things well? #retailsales But correct that the problems started a long time before Eddie Lampert came on the scene.
Could #Sears re-emerge brightly? Eddie Lampert Makes $4.6 Billion Bid to Keep Sears Alive https://lnkd.in/gAqNg8j
It's definitely a needed and awesome effort to preserve jobs for now. I just can't help but think, though, that had such a concerted focus been put on evolving the stores and brand over the years, the situation may not have been as dire as it is today. Definitely expedited the #AmazonEffect
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Ace Hardware and investment firm Centerbridge Partners are together eyeing an offer for bankrupt Sears Holdings’ home services division that would compete with an expected bid from chairman Eddie Lampert, people familiar with the matter said Monday.