Eddie Lampert’s ESL Moves to Block Sears Hometown Liquidation

ESL Partners says it ousted two board members and changed bylaws to prevent Sears Hometown and Outlet Stores Inc. from moving forward with a liquidation of the company’s Hometown business, according to an April 15 filing by ESL. The hedge fund controls a 58.8% stake in SHOS.

• ESL removes SHOS board members William K. Phelan and David Robbins and replaces them with Alberto Franco, a senior adviser to Cyrus Capital Management, and John Tober, chairman and CEO of technology firm CertaTech Solutions, per filing
• ESL amends SHOS bylaws to impose procedural requirements governing the board’s deliberation or approval of any ...