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Lampert’s Firm Can Keep, Sublet Sears’ Mall of America Lease

Aug. 23, 2019, 8:32 PM

An investment company controlled by former Sears Holding Corp. CEO Eddie Lampert can keep the retailer’s lease at the Mall of America in Minnesota, a bankruptcy judge ruled.

Sears closed its store at the world’s largest mall earlier this year, part of the retail giant’s country-wide closings following its Chapter 11 filing in October, 2018. But Lampert’s firm, Transform Holdco LLC — which bought most of Sears’ assets — has been fighting to keep the lease to sell or sublet, despite the mall owner’s staunch opposition.

Sears could assign the lease to Transform as part of its Chapter 11 sale, ...