Daily News: April 22, 2019

Sears Restructuring Team Sues Lampert


Reuters reported the restructuring team winding up the Sears bankruptcy estate filed suit against former chair Eddie Lampbert, claiming his hedge fund illegally drew billions of dollars from the company before it entered Chapter 11

According to Reuters, the suit, filed in the U.S. bankruptcy court in White Plains, NY on behalf of the retailer’s creditors, contends Lampert sold key assets, including the DieHard and Kenmore brands, devaluing the overall Sears brand.