Eddie Lampert, the press-shy CEO, chairman and largest shareholder of Sears Holdings, may be all that`s standing between the beleaguered department store chain and bankruptcy.
Lampert owns about 48% of Sears stock, according to the company`s annual report, including holdings through his hedge fund, ESL Investments.
Besides his stock, Lampert holds about $381 million in unsecured notes issued to Sears.
Sears, which operates both the Sears and Kmart chains, is teetering, having failed to reinvent itself under Lampert`s leadership in the digital age.
The conventional wisdom is that Lampert will suffer massive losses if Sears perishes, since he has pumped hundreds of millions from his personal fortune into the company.
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