Sears CEO’s hedge fund: Struggling retailer must act ‘immediately’ to buy time for turnaround

The hedge fund run by Sears CEO Edward Lampert issued its strongest warning to date that the retailer must “immediately” take steps to right itself, calling on the company to restructure debt and sell off assets. Lampert’s ESL Investments wants Hoffman Estates-based Sears Holdings Corp. to restructure more than $1 billion in debt and sell…

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