Eddie Lampert, Fairholme considering Sears Canada deal
Eddie Lampert is circling Sears Canada as the embattled retailer prepares for another court hearing later this week.
Lampert's ESL Partners and Bruce Berkowitz's Fairholme Capital Management announced on Monday they are "evaluating, discussing and considering a potential negotiated transaction" with Sears Canada. They also disclosed they’ve retained legal counsel in connection with Sears’ proceedings under creditor protection.
The announcement didn’t specify the type of transaction that could be considered, other than indicating it could involve “financing transactions, purchase and sale transactions or restructuring transactions.”
ESL cautioned there’s no assurance that a transaction will be pursued or closed.
ESL and Lampert hold a 45.3 per cent stake in Sears Canada. Fairholme has a 20.8 per cent stake.
Sears Canada is scheduled to return to the Ontario Superior Court of Justice for a follow up hearing Thursday after it filed for creditor protection last month.