Today a judge granted the sale of Sears’ assets to the company’s biggest shareholder and company chairman, Eddie Lampert. The move will keep 425 stores open and save 45,000 jobs.
Ray Wimer is an assistant professor of retail practice at Syracuse University’s Martin J. Whitman School of Management.
Wimer says:
“This latest ruling saves Sears for now but I don’t see how selling it to Eddie Lampert helps them stay viable into the future.
“Sears ended up in this predicament because of his leadership over the past decade. They haven’t innovated or adapted to the changing times and are still in the same financial straits that bind their ability to change, adapt or invest in technology.
“Kenmore will likely be sold and the money will go to enrich Lampert and his ESL fund, not used to help Sears.”
To request interviews or get more information:
Daryl Lovell
Media Relations Manager
Division of Communications and Marketing
T 315.443.1184 M 315.380.0206
dalovell@syr.edu | @DarylLovell
820 Comstock Avenue, Suite 308, Syracuse, NY 13244
news.syr.edu | syracuse.edu
Syracuse University
SYRACUSE, N.Y. – As the retail industry’s brick and mortar stores continue to struggle against the growing online shopping trend, commercial real estate is now facing new financial challenges. In the wake of a recent report that DestiNY USA, a…
On Monday, a fire broke out at the Cathedral of Notre-Dame in Paris that completely burned its spire and severely damaged much of the roof. The Paris fire chief reports the structure had been “saved and preserved as a whole,”…
Today astronomers announced today they have successfully captured the first direct visual evidence of a supermassive black hole and its shadow. Duncan Brown is the Charles Brightman Endowed Professor of Physics at Syracuse University’s College of Arts and Sciences. Brown…
President Trump has threatened to shut down the U.S.-Mexico border if Mexico doesn’t stop illegal immigrants from crossing immediately. Experts fear the potential shutdown would have major implications on trade, particularly produce items like avocados and berries. Rong Li is an…
The “bomb cyclone” that hit several Midwestern states triggered devastating flooding in most of Nebraska, leaving behind more than $1 billion worth of flood damage. Floodwaters have begun to recede in Iowa and Nebraska, while residents in northwestern Missouri are…
If you need help with your subscription, contact sunews@syr.edu.
