Friday, October 26, 2018

Sears directors tap Evercore to examine former CEO Lampert's deals

Reuters
Two Sears Holdings Corp board directors have hired investment bank Evercore Inc to scrutinize deals that were led by former Sears Chief Executive Eddie Lampert with the U.S. retailer before it filed for bankruptcy protection, people familiar with the matter said on Friday.

The deals, including separations of Sears’ businesses and real estate, may come under examination in bankruptcy proceedings, with creditors claiming the transactions stripped the retailer of valuable assets. Billionaire Lampert is the largest shareholder and creditor of Sears through his hedge fund, ESL Investments Inc. . . . more