Sears Chairman Eddie Lampert pleas to employees: We need 'material progress' to avoid liquidation

CNBC
Former Sears CEO Eddie Lampert gave 1,000 employees a rallying cry at a town hall meeting Tuesday as the company gears up for a do-or-die holiday season.

"We need to show material progress over the next few months to establish to our senior lenders that a reorganization of the company is realistic and to avoid a shutdown and liquidation," Lampert said at the retailer's headquarters in Hoffman Estates, Illinois, according to exclusive audio obtained by CNBC.. . . more