This audio is auto-generated. Please let us know if you have feedback.
Welcome to The Backroom, a window into what goes on behind the scenes as the Retail Dive team covers the stories and trends reshaping retail. You can check out all our podcast episodes (past and present) here and listen on Apple Podcasts, Stitcher, iHeartRadio and Spotify.
You could be forgiven for thinking the Sears Holdings bankruptcy ended years ago, perhaps back when its remaining stores were sold to its former CEO, Eddie Lampert, via a new company of his making: Transformco. Or maybe when it’s bankruptcy plan was approved in court.
Ongoing litigation has kept the case from resolving. A lawsuit between Sears Holdings — today essentially a paper entity that likely wouldn’t exist but for the ongoing Chapter 11 case — and Lampert over the latter’s various actions when in control of Sears Holdings has been grinding through the court system for years now. A recent settlement opens a path to finally ending it all.
You could also be forgiven if you’ve forgotten all about Sears department stores and Kmart, Sears’ sister banner. Few locations remain of either. A recent tour of a remaining Sears store showed a quiet, thinly merchandised shell compared to Sears’ former glory.
In this episode of The Backroom, we take a look at the state of the Sears Holdings bankruptcy and the retailer carrying on the name in diminished form.
Resource links:
Editor’s note: This show was produced and edited by Caroline Jansen.
via https://www.aiupnow.com
Retail Dive Staff, Khareem Sudlow
