Sears, which was once the largest retailer in the world, is now reportedly facing bankruptcy.
Sears CEO Eddie Lampert has been pumping funds from his own hedge fund, ESL Investments, into the company for years in an attempt to keep it afloat.
Lampert owns a controlling share in Sears, with 31 percent of its stock; his hedge fund owns another 19 percent.
In August, ESL made an offer to buy out Sears' well-known appliance brand Kenmore and the company's home improvement business.
Sears sold off another legacy brand, Craftsman, in 2017.
Sears and Kmart, part of Sears Holdings, operated around 1,000 stores in 2017.
Despite pairing up with Amazon in 2017 to sell appliances online, analysts say Sears has not kept pace with change nor made investments in the digital space to the extent that Walmart and Target have done.
News source: https://www.nbcnews.com/business/business-news/125-year-old-sears-file-bankruptcy-report-n918446作者:
mikeon88 時間: 2018-10-11 17:58