Eddie Lampert May Be Done With Sears Canada

Or Not. But he’s definitely done with Bruce Berkowitz.
Author:
Updated:
Original:
By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

There may only be two people left on earth who believe in Sears: CEO and largest shareholder via his ESL Investments Eddie Lampert, and Fairholme Funds’ Bruce Berkowitz. The problem is, the two don’t exactly see eye-to-eye on things, and so have abandoned plans to jointly figure out how to fix Sears Canada. This leaves Lampert holding 53.3% of the bankrupt retailer’s stock between ESL and Sears itself, and a bunch of not-very-attractive sounding options. He can seek out some other sucker to try to buy Sears Canada out of bankruptcy, or he can do this:

ESL is also evaluating and considering a potential sale of some or all of its common shares of the Issuer (Sears Canada) in order to generate a tax loss for ESL and their investors.

Eddie Lampert, Fairholme Capital end talks on possible Sears Canada bid [CBC]
Eddie Lampert’s hedge fund says it may sell some or all its Sears Canada shares [MarketWatch]

Related

By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

Eddie Lampert Not The Only One Who Thinks Sears Isn’t A Total Disaster

And he’s maybe willing to let some of those people in on the action, for reasons.

By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

Eddie Lampert Has Some New Ideas To Prolong Sears’ Suffering

When he’s done with it, the retailer will be just a concentrated black hole of pain and misery.

By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

Sears Is Screwed, But Eddie Lampert’s Gonna Be OK

The hedge fund manager has done some hedging of his terrible investment.

By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

Sears Is Dead. Eddie Lampert Is Still Very Much OK.

He didn’t want to file for bankruptcy and he’s not gonna be CEO anymore, but he’s still probably gonna get everything he wants.

By DR04 [CC BY 3.0], from Wikimedia Commons

Eddie Lampert Not Ready To Leave Sears Behind

The old friends are hoping at least for one last drink in 2019.