Sears was once America’s biggest retailer. Now, it’s recently come out of bankruptcy and is struggling to survive. Here, two former employees and one “Sears super shopper” explain some of the company’s missteps. Photo: Pacific Sky/Ben Kolak/Carlos WatersSears Holdings Corp. sued Eddie Lampert, his hedge fund ESL Investments Inc. and others associated with ESL and Sears, accusing them of siphoning off billions of dollars worth of assets as the retailer racked up huge losses. The lawsuit, filed by the bankruptcy team winding down what is left of the company after Mr. Lampert’s recent purchase of Sears stores, alleges the hedge-fund manager and the fund’s board directed executives at the retailer to produce rosy financial projections for a big turnaround even as it accumulated...

Source: Wall Street Journal April 18, 2019 14:21 UTC