Looking at Sears from the Inside Out, Part Two

The second part of an interview with former Sears Canada CEO Mark Cohen.

We continue with the interview with Mark Cohen, the former CEO of Sears Canada about how a hedge fund manager named Eddie Lampert took down two of the most iconic brands in America. In this second half of the interview, we learn about the effects of Lampert’s mismanagement and why there were few people, including the media that could stop what was going on.

Mark Cohen

This is the way he plays. This is the way lots of people were treated by Eddie Lampert, plus lots of companies. The way this guy is Donald Trump is personified in his behavior. So to get back to the present, Kmart has got what, three stores left? Sears has got maybe 20 left. The only reason there are any left is that Lampert still got some net operating losses that he can yet harvest. And a curious thing happened when this thing went into bankruptcy. The company filed bankruptcy in October, I think of 18 yep, 2018. And retailers never filed for bankruptcy in October…