The biggest surprise was that he ran it as long as he did. He bought KMart out of bankruptcy for the real estate value, and quickly monetized that, then bought Sears. Some folks thought he’d run through that like he did the good KMart assets. But he put 10 years into trying to keep the chain running. So this wasn’t your typical investment banker looting.
Looks like he may be willing to take one more round with a few hundred stores. I can’t see where the pleasure is worth the pain at this point. Maybe nostalgia on his part.
He paid 20% for K-Mart.
He sold an idea that they would prosper.
I doubt he had been in a K-mart in his life.
Sears screwed the pooch by letting Home Depot destroy them.
Nobody buys clothes at Sears.