Sears Adds Restructuring Expert to Its Board

By Anonymous

The board appointment of Alan Carr comes as Sears Chairman and CEO Edward Lampert is backing a rescue plan that would avoid a bankruptcy filing

Sears Holdings Corp. added a bankruptcy expert to its board of directors, another sign the embattled retailer is preparing for a complex restructuring.

Alan Carr, who runs a restructuring advisory firm and previously worked as a restructuring lawyer at Skadden, Arps, Slate, Meagher & Flom LLP, has joined the board, the company said Tuesday. Mr. Carr previously served on the board of LightSquared, a telecom company that went through bankruptcy.