https://www.yahoo.com/finance/news/yes-sears-likely-collapse-biggest-202150464.html
“It’s in the guise of trying to save this company, which could not be saved years ago and should have been put through a corporate reorganization,” said Elliot Lutzker, chairman of Davidoff Hutcher & Citron’s corporate law practice.
If the board accepts the ESL offer, Lampert will take direct control of the most valuable pieces of the iconic retailer — and could, in fact, walk away having made money off the slow demise of a once-robust operation that stocked just about everything America needed.