1512 Artaius Parkway, Suite 300,
Libertyville, IL 60048

Call for a FREE Phone Consultation

847-549-0000

Video Consultations Also Available

Subscribe to this list via RSS Blog posts tagged in Sears
Sears Granted Another Chance by Bankruptcy Judge

A judge has granted a $5.2 billion plan to Sears chairman and shareholder Eddie Lampert in an effort to keep the business going. Lampert's plan managed to overcome opposition from creditors, including suppliers and mall owners, who pushed to block the sale and liquidate. Even with this reprieve, the long-term survival of the decades-old company remains in question.

Lampert has yet to offer any specific plans, although Sears faces stiff competition from Amazon, Walmart, and Target. The company filed for Chapter 11 bankruptcy protection last fall. Any time a Chapter 11 bankruptcy is filed, it often makes the news because this bankruptcy is used by large corporations when they fall into financial trouble. Other corporations, such as United Airlines and General Motors, have also filed Chapter 11 Bankruptcy in recent years.

Who can be a Debtor in a Chapter 11 Bankruptcy and How Does a Case Start?

...
AFDA BBB IRELA Illinois State Bar Association Illinois Trial Lawyers Asscociation Manta Member NACBA North western suburban bar association Top One
Back to Top