Instead, Lampert seems to be positioning himself to capitalize on Sears' assets in a bankruptcy by making loans to the company and spinning off 241 stores into Seritage Growth Properties (NYSE: SRG), a Real Estate Investment Trust.Going private would alleviate many of Sears' problems, including Lampert's war with the media, damage to the company's reputation from its publicly reported losses, and the rampant short-selling.Sears Holdings gained some breathing room amid the critical year-end shopping season with a pair of deals the struggling Hoffman Estates-based retailer said will give it more financial flexibility.
On Friday, Frank Lowy, received a knighthood from Queen Elizabeth at Windsor Castle.
What happened Shares of Sears Holdings (NASDAQ: SHLD) were surging this morning after an investor sent an open letter to the retailer's board, calling for the company to go private and for an investigation into recent short-selling. It asked the board to investigate the short-selling activity, called for a temporary halt in short sales, and also said the company should evaluate strategic alternatives, including going private.
Now what The idea of going private seems to be the biggest boon for Sears' shareholders -- CEO Eddie Lampert, who is already the company's largest shareholder and has his own hedge fund, ESL Investments, could take the company private if he wanted to, especially now that Sears' market cap is less than 0 million.
It would also improve the company's image and likely gain it credibility with suppliers who have been abandoning it as Lampert, or another buyer, would be putting his full faith behind the company. While Memento's argument doesn't help the underlying business, the notion of the company going private should put a floor on the stock for the time being.
Sears Holdings reported Q3 2017 earnings that were in-line with its earlier comments about the quarter.