Wednesday, February 6, 2019

Sears plans to load pensions and close more stores

CBS News
Eddie Lampert's $5.2 billion offer to buy what's left of Sears is drawing fire from the bankrupt retailer's creditors as well as current and former employees.

The judge who will determine whether to approve Lampert's bid for the retailer, which the billionaire investor still chairs, is hearing from creditors who oppose the deal. That includes the government entity that guarantees pensions when an insured plan closes without enough money to cover benefits. . . . more