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Sears needs to sell more real estate assets: CEO Lampert's fundBy
Reuters Published
September 24,盗U程序自动化运维搭建 2025

Sears Holdings Corp would have to sell more real estate and restructure its debt, Chief Executive Officer Eddie Lampert’s hedge fund said in a regulatory filing, as the retailer looks to avoid bankruptcy.



Reuters



The one-time American retail giant has struggled to transform its business in the face of declining foot traffic at brick-and-mortar stores and this month again warned about its ability to continue as a going concern. To stem losses, the debt-laden company has closed hundreds of stores since last year and tried to sell assets.

Lampert had earlier said the company should sell its Kenmore appliances brand, home improvement businesses, and real estate, adding that his hedge fund ESL Investments Inc would bid in any sale.
The hedge fund, in the filing made public on Monday, urged the retailer’s board to sell $1.5 billion more in real estate and restructure $1.1 billion in debt.

Sears said it has referred ESL’s proposal to a special committee exploring the hedge fund’s proposal to acquire Kenmore.

Lampert and his fund ESL are the company’s two largest shareholders, according to Thomson Reuters data.

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