Matt Mason: Eddie Lampert Uses Sears Workers as Fulcrum in Renewed Rescue Package – Bloomberg
Matt Mason was featured in Bloomberg‘s article titled “Eddie Lampert Uses Sears Workers as Fulcrum in Renewed Rescue Package.”
“If you’re assessing multiple bids, and one is liquidating and getting rid of 50,000 jobs, and the other is keeping the jobs, you’re going to look to the one that saves the jobs,” said Matthew Mason, of retail advisory and restructuring firm Conway MacKenzie, who worked as in-house counsel for Kmart prior to its 2005 merger with Sears.
There are solid business reasons to focus on rank-and-file job security, Mason said. When a company files for bankruptcy, people immediately start looking for other jobs, making it harder to stage a successful turnaround. “If you keep hearing about liquidation and you’re living paycheck to paycheck, you don’t have the incentive to stick through this process,” Mason said.