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Transformco
Transform SR Brands LLC (doing business as TransformCo, referred to as "New Sears") is an American privately held company formed on February 11, 2019, to acquire some of the assets of Sears Holdings Corporation. The new company is owned by ESL Investments. Following the Chapter 11 bankruptcy filing of Sears Holdings on October 15, 2018, Transformco purchased the surviving assets owned by Sears Holdings for $5.2 billion. On June 3, 2019, it was announced that Transformco would acquire Sears Hometown and Outlet Stores. As per the deal, Sears Hometown might need to divest its Sears Outlet division to gain approval. History Sears Holdings On November 17, 2004, the management of Kmart Holding Corporation announced its intention to purchase Sears, Roebuck and Co. under a new corporation. Kmart previously emerged from Chapter 11 bankruptcy protection on May 6, 2003. The new corporation became known as Sears Holdings Corporation, simply known as Sears Holdings. The new corporation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kmart
Kmart ( ), formerly legally registered as Kmart Corporation, now operated by Transformco, is a department-store chain and online retailer in the United States and Territories of the United States, its territories. It operates four remaining Kmart Big-box store, big-box department stores — three in the US Virgin Islands and one in Tamuning, Guam. The company closed its last big-box store in the mainland United States in 2024. A smaller location remains open in the former garden centre, Garden Shop of its Kendale Lakes, Florida, Kendale Lakes, Florida (Miami postal address) store, while the adjoining big box building is occupied by another retail chain that has leased the space. Before 2018, Kmart owned and operated a much larger chain of its namesake stores. The company is headquartered in Hoffman Estates, Illinois, United States. The company was incorporated in 1899 as S. S. Kresge Corporation and renamed Kmart Corporation in 1977. The first store with the Kmart name opened i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sears
Sears, Roebuck and Co., commonly known as Sears ( ), is an American chain of department stores and online retailer founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail-order catalog company migrating to opening retail locations in 1925, the first in Chicago. Through the 1980s, Sears was the largest retailer in the United States. In 2005, the company was bought by the management of the American big box discount chain Kmart, which upon completion of the merger, formed Sears Holdings. In 2018, it was the 31st-largest. After several years of declining sales, Sears' parent company filed for Chapter 11 bankruptcy on October 15, 2018. It announced on January 16, 2019, that it had won its bankruptcy auction, and that a reduced number of 425 stores would remain open, including 223 Sears stores. Sears was based in the Sears Tower in Chicago from 1973 until moving out to Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sears Holdings
Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. It was the 20th-largest retailing company in the United States in 2015. It filed for Chapter 11 bankruptcy on October 15, 2018, and sold its assets to ESL Investments in 2019. The new owner moved Sears assets to its newly formed subsidiary Transformco. History 2004–2005: Formation On November 17, 2004, the management of Kmart Holding Corporation announced its intention to purchase Sears, Roebuck and Co. under a new corporation. Kmart previously emerged from Chapter 11 bankruptcy protection on May 6, 2003. The new corporation became known as Sears Holdings Corporation, simply known as Sears Holdings. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands. The merger of Kmart and Sears closed on M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ESL Investments
ESL Investments is a privately held hedge fund based in Greenwich, Connecticut. History ESL Investments is managed by Edward Lampert, who founded it in April 1988 and named it after his initials. The firm invests in the American public equity and hedging markets. Managing the fund with a contrarian investing approach, Lampert is the company's chairman and chief executive officer, and William Crowley is its president and chief operating officer. ESL is fairly unusual as a hedge fund in that it takes large stakes in a small number of companies and holds them for many years. Most of ESL's portfolio consists of retail companies, particularly Kmart (now Transform SR Brands LLC), by far the company's largest holding (53.5% ownership as of June 2010). The revenue from Kmart plays a big part in helping ESL acquire other companies. Lampert began trading in stocks at the investment bank Goldman Sachs during the 1980s. In 1988 Lampert founded ESL Investments with the backing of invest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eddie Lampert
Edward Scott Lampert (born July 19, 1962) is an American billionaire businessman. He is the former chief executive and chairman of Sears Holdings, the founder of Transformco, and the founder, chairman, and chief executive of ESL Investments. Until May 2007, he was a director of AutoNation. He was a director of AutoZone from 1999 to 2006. As of October 2021, his net worth was estimated at US$2 billion. Early life and education Lampert was born in 1962 to Dolores Lampert and Floyd M. Lampert. He is Jewish. His mother was a housewife. His father was a senior partner in the law firm of Lampert & Lampert in New York City. He has a younger sister Tracey. Lampert's grandmother was a passive investor and a fan of Louis Rukeyser's ''Wall Street Week'' television program. She instilled in him an interest in investing. His mother would later recall that young Eddie would sit with his grandmother reviewing and evaluating the performance of her stock picks in the daily newspaper. Lampert's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sears Hometown And Outlet Stores
Sears Hometown and Outlet Stores Inc. was an American retail company that sold home appliances, lawn & garden equipment, apparel, mattresses, sporting goods, and tools. The company had four subsidiary store formats: Sears Hometown, Sears Outlet, Sears Hardware and Appliance, and Sears Home Appliance Showrooms. Sears Hometown and Outlet Stores was based in Hoffman Estates, Illinois. Sears Hometown and Outlet Stores was founded in April 2012. The company was a spun off from Sears Holdings in 2012. By May 2019, Sears Hometown and Outlet Stores & its independent dealers & franchisees operated a total of 639 stores across 49 states as well as in Puerto Rico & Bermuda. On June 3, 2019, it was announced that Transform Holdco would acquire Sears Hometown and Outlet Stores. As per the deal, Sears Hometown needed to divest its Sears Outlet division to gain approval. The company ceased to exist on October 23, 2019, when Franchise Group acquired the Sears Outlet division and Transform Holdco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago
Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of United States cities by population, third-most populous city in the United States after New York City and Los Angeles. As the county seat, seat of Cook County, Illinois, Cook County, the List of the most populous counties in the United States, second-most populous county in the U.S., Chicago is the center of the Chicago metropolitan area, often colloquially called "Chicagoland" and home to 9.6 million residents. Located on the shore of Lake Michigan, Chicago was incorporated as a city in 1837 near a Chicago Portage, portage between the Great Lakes and the Mississippi River, Mississippi River watershed. It grew rapidly in the mid-19th century. In 1871, the Great Chicago Fire destroyed several square miles and left more than 100,000 homeless, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CBS Corporation
CBS Corporation was an American multinational media company with interests primarily in commercial broadcasting, publishing and television production. It was split from Viacom on December 31, 2005, alongside an entirely new Viacom; both CBS Corporation and the second Viacom were controlled by National Amusements, a theater company owned by billionaire Sumner Redstone. CBS Corporation comprised the over-the-air television broadcasting ( CBS and The CW), television production and distribution, publishing, pay-cable, and recording assets that were previously owned by the first Viacom. It was the world's eighth largest entertainment company in terms of revenue and headquartered at the CBS Building in Midtown Manhattan, New York City. CBS Corporation announced on August 13, 2019, that it would merge with Viacom for the second time to form ViacomCBS (now known as Paramount Global). The merger was completed on December 4. History Early history The first incarn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
WBBM-TV
WBBM-TV (channel 2) is a television station in Chicago, Illinois, United States, serving as the market's CBS network outlet. Owned and operated by the network's CBS News and Stations division, the station maintains studios on West Washington Street in the Loop, and it transmits from atop the Willis Tower. History Early history (1940–1953) WBBM-TV traces its history to 1940 when Balaban and Katz, a subsidiary of Paramount Pictures, signed on experimental station W9XBK, the first all-electronic television facility in Chicago. Balaban and Katz was already well known for owning several movie theaters in the Chicago area. To establish the station, the company hired television pioneer William C. "Bill" Eddy away from RCA's experimental station W2XBS in New York City. When World War II began, Eddy used the W9XBK facilities as a prototype school for training Navy electronics technicians. While operating the Navy school, Eddy continued to lead W9XBK and wrote a book that defined c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NBC News
NBC News is the news division of the American broadcast television network NBC. The division operates under NBCUniversal Media Group, a division of NBCUniversal, which is itself a subsidiary of Comcast. The news division's various operations report to the president of NBC News, Rebecca Blumenstein. The NBCUniversal News Group also comprises MSNBC, the network's 24-hour liberal cable news channel, as well as business and consumer news channels CNBC and CNBC World, the Spanish language and United Kingdom-based Sky News. NBC News aired the first regularly scheduled news program in American broadcast television history on February 21, 1940. The group's broadcasts are produced and aired from 30 Rockefeller Plaza, NBCUl's headquarters in New York City. The division presides over the flagship evening newscast ''NBC Nightly News'', the world's first of its genre morning television program, ''Today (American TV program), Today'', and the longest-running television series in American hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berkshire Hathaway
Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Originally a textile manufacturer, the company transitioned into a conglomerate starting in 1965 under the management of chairman and CEO Warren Buffett and vice chairman Charlie Munger (from 1978 to 2023). Greg Abel now oversees most of the company's investments and has been named as Buffett's successor. Buffett personally owns 38.4% of the Class A voting shares of Berkshire Hathaway, representing a 15.1% overall economic interest in the company. The company is often compared to an investment fund; between 1965, when Buffett gained control of the company, and 2023, the company's shareholder returns amounted to a compound annual growth rate (CAGR) of 19.8% compared to a 10.2% CAGR for the S&P 500. However, in the 10 years ending in 2023, Berkshire Hathaway produced a CAGR of 11.8% for shareholders, compared to a 12.0% CAGR for the S&P 500. From 1965 to 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
