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.”
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