The odds are stacked against billionaire investor Eddie Lampert and his $5 billion-plus effort to resurrect Sears from bankruptcy, former Sears Chairman and CEO Alan Lacy told CNBC Thursday.
“Obviously, many people have said it, it’s doubtful and unlikely that a retailer that goes into a Chapter 11 process comes out of it and stays out of it,” he said on “Squawk on the Street.” “It’s rare that that’s happened in retail bankruptcy history.”. . . more