Todd A. Feinsmith, a partner and co-chair of Pepper Hamilton’s Corporate Restructuring and Bankruptcy Practice Group, was quoted in the January 14, 2019 CNN article, "Auction Day for Sears. Will It Stay or Go?"
However, despite the back and forth, Todd Feinsmith, co-chair of the Bankruptcy Practice Group at Pepper Hamilton LLP, told FOX Business, that it is still "very possible that a deal with Lampert will be made" since he upped his bid by $600,000.
"He has much to lose. The sticking point with the [previous] bid was that it is insufficient to cover the administrative costs of the bankruptcy, including the fees of lawyers and other professionals," Feinsmith said.
Still, Feinsmith said the demise of Sears overall would be "very bad news" for other retailers in malls across the country as many rely on "anchor tenants" such as Sears to generate foot traffic.