Buyer May Skip $43M in Severance Owed to Laid Off Workers

When Eddie Lampert committed to buy out Sears from bankruptcy, he agreed to pay displaced workers up to $43 million. Now that may not happen.

Lampert has asked a federal bankruptcy judge to release him from that promise, saying Sears has failed to live up to its obligation to sell him most of its assets. Lampert was in charge of Sears for years before the bankruptcy filing and some people blame him for the retailer’s financial woes. He served as chairman and former CEO of the company through its bankruptcy filing… Fortune

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