Thursday, March 14, 2019

'Old Sears' sues 'new Sears'

Retail Dive
"The old Sears" — the remnant of the company that sold its stores and other assets in bankruptcy last month — is suing the buyer of those assets, Transform Holdco or "new Sears," for $57.5 million it says it is owed from the sale, according to court documents filed Monday.

The old Sears alleges that Transform Holdco (an entity of Eddie Lampert's hedge fund) is in violation of its contractual obligations under the asset purchase agreement and automatic stay, and that the funds it's requesting are being unlawfully withheld. . . . more