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Sears Parent Settles $40M Lawsuit for Leading Bangladesh Suppliers Over ‘Financial Cliff’

As we settle into the new year, our Sourcing Summit Companion Report looks ahead at ways to optimize processes and performance.

The parent company of Sears Holdings has reportedly settled a $40 million lawsuit with its garment suppliers in Bangladesh after allegedly leaving them hanging with containers filled with finished garments and a trail of unpaid debts at the start of the coronavirus crisis last spring. Business magazine Forbes reported Sunday that Transformco, a privately held…

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