Sears Holdings Corp. is having a tough time. But its ceo and chairman, Eddie Lampert, is not.
The transformation into an integrated and member-centric “Shop Your Way” business model is now seven years in the making.
Edward S. Lampert, chairman and ceo at Sears, is looking to talk to partners about acquiring Kenmore and other assets.
One analyst believes the sale process means the retailer is in deeper financial distress than previously suspected.
Lampert says he’s “invested in Sears Holdings — in every sense of the word.”
A deal could have Sears receiving $1.7 billion, excluding its Kenmore IP asset, which doesn’t yet have a valuation.
A deal with ESL would give Sears extra liquidity.
The matter involved the retailer’s online support services provider, 7.ai.
Edward Lampert’s annual salary in 2017 was again $1, but he saw stock awards rise 24.5 percent from 2016.
The $28.5M transaction is for four Sears locations, which also have adjacent Sears Auto Centers.