When Eddie took over, Lands' End was the biggest online apparel retailer in the world, Kmart and Sears were the second and third biggest retailers, and Amazon was a seller of books. This week? Lands' End filed with the SEC that there was substantial doubt that it would remain a going concern if it wasn't able to refinance a looming $384M loan. Another former Sears property turned to ash by complete failure Eddie Lambert.
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Lands' End very consciously disengaged itself from Sears last year, closing all of their remaining departments within Sears stores and replacing some of them with stand-alone Lands' End stores. There is, for instance, a Lands' End store in the Burlington (MA) Mall, replacing their department inside a Sears that closed two years ago in the same mall.
https://www.landsend.com/article/lands-end-stores-frequently-asked-questions/
You don't get how this works do you? Eddie owns most of it. If it declared bankruptcy he'd likely seize control just as he's done with all this other stuff. Debt would be written off, it would be acquired by transform for a few million and debt forgiveness then he'd wipe everyone else out, sell the brand and profit.
Lands end was a wholly owned subsidiary of Sears from 2014 -2019. It is now a separate entity. Eddie Lampert has never been involved in the day to day operations . His hedge fund is merely a share holder. The SEC filing is a formality to alert its shareholders of it’s intentions refinance its debt w/ BOA btw, your LDS ( Lampert deranged syndrome) is comical.
I actually wasn't aware of Lands End's "going concern" filing before I read this post, so I'm glad the OP shared it so I could read on further. Thank you, OP!
Yawn another post stating nothing new just what we already know
The name Eddie Failure has a nice ring to it.