Sears owner wants out of paying $43 million to former employees

National

(CNN) — The man who bought Sears is trying to avoid paying the $43 million in severance that he promised to employees who lost their jobs over the past year.

Eddie Lampert was formerly the chairman and CEO of Sears Holdings and purchased what was left of the bankrupt company in February.

His attorneys argue Sears has fallen short on its obligations to Lampert, and therefore he doesn’t have to make the severance payments.

Sears Holdings disputed that assertion in a motion filed in court Tuesday.

news-app-download-apple-350x50
news-app-download-android-350x50

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Videos

More Video

More Local News

3-Day Forecast

Trending Stories

Trending Stories