Sears’ current, former owners settle suit

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has agreed to a settlement in its suit against Transform Holdco, the Eddie Lampert controlled company that bought up the majority of Sears’ assets last summer. In the suit, Sears’ former owner contended that Transform still owed it more than $57 million. Transform, in turn, filed a complaint accusing Sears Holdings of delaying vendor payments and failing to deliver promised inventory. Under the settlement agreement, Transform Holdco will pay Sears Holdings $18.3 million, including about $13 million in cash.