Updated:
Original:

Don’t Make Eddie Lampert Do This

His game of chicken with Sears shareholders gets serious.
Author:
By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

Good night, sweet prince. By Jonrev at English Wikipedia [Public domain], via Wikimedia Commons

For months, Eddie Lampert has sought to convince people—specifically, the other poor bastards who own Sears Holding stock—that he’s prepared to let the company die if he doesn’t get his way. Specifically, if he doesn’t get to buy the only remaining parts of the famed and doomed retailer that are still worth owning, and also by restructuring its debt in such a way as to make him another $1 billion on a company that’s lost $11 billion since he took over. He’s done it before, and he’ll do it again. Don’t believe him? Well, wait and see. But not for long. Or, you know, don’t, and we can all keep playing for a little while longer.

Sears Holdings Corp. has hired M-III Partners LLC to prepare a bankruptcy filing that could come as soon as this week, according to people familiar with the situation, as the cash-strapped company that once dominated American retailing faces a debt payment deadline….

Mr. Lampert wants to restructure Sears’s debt without filing for bankruptcy protection, because he views bankruptcy as risky for retailers, according to a person familiar with his thinking…. Mr. Lampert, whose hedge fund ESL Investments Inc. owns a majority of Sears shares, also believes the company can get more value for its assets by selling them while it is a going concern, this person added.

Sears Hires Advisers to Prepare Bankruptcy Filing [WSJ]

Related

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 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 DR04 [CC BY 3.0], from Wikimedia Commons

Eddie Lampert Not Ready To Bid Farewell To Longtime Love

He’s got some new extraordinary measures to keep Sears alive just a little bit longer.

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.

lampert-trump

Someone Give Eddie Lampert A White House Job Before He Loses Everything

There is literally only one way to stop Eddie from emptying his veins to save Sears.

Sears.EddieLampert

Eddie Lampert Wins Sears Auction, Loses More Generally

He realizes this means he still owns Sears, right?