Eddie Lampert is so broke TransformCo is getting sued over unpaid installment payments on settlements on goods that shipped over a year ago

https://www.retaildive.com/news/more-kmart-sears-stores-to-close/580531/

At least one supplier has sued Transformco over unpaid invoices. In a lawsuit filed Wednesday, a Chinese supplier to Transformco's stores alleges the retailer was months late paying for shipments from September. In February, they came to a settlement requiring Transformco to pay more than $380,000 in installments through March, of which more than $200,000 remains unpaid, on shipments that arrived nearly a year ago on 30-day payment terms.

But the billion from Craftsman Royalties, Innovel and DieHard sales have no problems making their way to Eddie's pockets. No wonder the Co-CEO trio of Leena Munjal, Robert Riecker, and Gregory Ladley are nowhere to be found since Eddie handed over the keys.

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Many vendors should have known this place was getting sh–canned. I placed orders for shc for awhile several years ago and wouldn’t place orders if my vendors weren’t getting timely payments. Ethics matter, not that there was much of that in Hoffman Estates..

Love the id–ts that blame the vendors; who were under contract and would have been sued if they did not deliver their goods and/ or services. So cheap and easy to blame the ones who "should have known better." Let me guess, when you beat your dog he "Should had known that you are an a**hole" right?

I hope the last group at HE get screwed out of severance. Time to join the party pal...

What did these vendors expect.... EL took the many and ran from Sears holdings without paying vendors, how could they think he’d pay them? We all knew TransformCo was going to go in the dumper like SHC did, how could they possibly think EL would treat them differently?

When I saw on this forum that furloughs were to last until the end of the summer for some associates, that's when I figured it is the end of the company.

We're in Ch7 already? That was quick. Transforming Transformco.

Plenty more lawsuits coming. Sadly none of those companies will see a dime due to Chapter 7. There are hundreds of unpaid vendors that have not seen payments since 2019. Not much they can do. No one to talk to. All the HE people that begged them to keep providing goods and services and promised they would get paid are furloughed and/ or ignoring the situation. There is a sh*t ton of people headed for karmic hell.

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Eddie Lampert is so broke TransformCo is getting sued over unpaid installment payments on settlements on goods that shipped over a year ago

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