Sears' chairman stands at the center of fight for company
NEW YORK (AP) — As Sears teeters on the brink of collapse, one man stands at the center of the fight for the future of the iconic retailer.
Eddie Lampert plays several often-conflicting roles in what could be the final chapter for the company that began as a mail order watch business 132 years ago. He's been chairman, CEO, lender, and largest shareholder — all at the same time. And he stands to win big if Sears survives.
The fate of Sears — and its Kmart brand — could be decided Monday in a law firm conference room high above Manhattan, a block from Central Park. There, those who are owed money by Sears are considering Lampert's last-ditch plan to preserve 425 stores and 50,000 jobs at a bankruptcy auction.