He's only bidding so he can recoup his money owed to him, hell I would do the same thing. Sell it piece by piece for more than what chapter 7 would have provided, then get rid of as many lazy workers and high payed people who are non essential. He's very smart actually
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Lampert's net worth was around $10B at one point. Now it's just over a billion because he bet on the business acumen of the world's worst CEO, and he has to go begging to multiple banks to scrounge together $1.3B together cash all so he can buy a concern that can lose half a billion dollars every six weeks. That's an id--t.
He’s been Ceo for almost a decade and he has lazy workers and overpaid executives? Then he s---s as a ceo.
He's already sold how much of it? Kenmore is likely going to go to him when it's all said and done. He's got the stipulation that he can't be sued by vendors and creditors in his "bid", which I don't see being approved. He's done what he's done the last 14 years, slowly kill this place so HE could profit.
Well the guy's an id--t then, because he's already lost around $8B on it.
Still say he knows the huge department store concept needs to go and with it
The huge stores and payroll.
Biggest challenge for him is to bury the debt, which I believe he will handle
. People here are so focused on their little world that they forget the guy bought it to
make money.