How vulture capitalists ate Sears

Sears' business model and brand were from a bygone era. But the hedge-fund pillagers running the show never gave the company a chance to survive.

A Sears store.
(Image credit: Illustrated | Chronicle/Alamy Stock Photo, Historic Collection/Alamy Stock Photo)

Sears, the iconic American retailer, filed for Chapter 11 bankruptcy on Monday. Many analysts are treating Sears' fall as a cautionary tale about imprudent borrowing and failures to adapt — particularly in the face of e-commerce and rivals like Amazon. There is obviously a lot of truth in this.

But there's another piece of the narrative that deserves just as much attention: how Sears was stripped for parts by a Wall Street hedge fund.

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