Seritage CEO Benjamin Schall and a shuttered Sears location (Credit: iStock) As Sears works its way through bankruptcy proceedings, Seritage Growth Properties posted a nearly $26 million net loss in the second quarter, according to its earnings report. That’s compared to a $10.6 million loss in the second quarter of 2018. For the first half […]
Lands’ End is breaking up with Sears for Amazon
(Credit: iStock) Lands’ End is reducing its physical presence and reinforcing its efforts to sell clothing in the virtual world. The casual apparel retailer is closing its retail spaces inside Sears stores and has started selling some products online through Amazon, the Chicago Tribune reported. Wisconsin-based Lands’ End is preparing to close its last 40 […]
New York private equity group leads $800M refi for Sears
Edward Lampert and HPS CEO Scott Kapnick A New York-based private equity group is betting big on Sears, after Edward Lampert’s multibillion-dollar takeover of the ailing retailer from bankruptcy earlier this year. HPS Investment Partners, a former subsidiary of JPMorgan, led a group of investors in providing Sears with an $800 million refinancing package, secured […]