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Private Equity

Hedge Funds Have Killed Sears And Many Other Retailers

by kbzk.com posted 8months ago 46 views
Sears and other retailers that bit the dust recently have two things in common: They couldn’t compete with Amazon and Walmart and they were backed by big private equity firms and hedge funds that horribly mismanaged them. The primary owner of Sears was hedge fund manager Eddie Lampert. His ESL Investments firm bought a controlling stake in Kmart following its own bankruptcy in 2003 and then merged it with Sears.

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