The suit, which also names Steven Munchin, alleges Lampert stripped the iconic retailer of $2B in assets ahead of its bankruptcy.
Under the terms of the deal, ESL has promised to save 425 stores and roughly 45,000 jobs.
“He didn’t save Sears, he ran it into the ground.”
The storied retailer readies to sell itself in bankruptcy court.
The bid would be one more chance for the iconic retailer to escape liquidation.
The retailer’s death spiral may include its gift cards.