UPDATE: 12/19/13, 2:45 p.m. EST. Sears has annouced that Greenberg Traurig cochair Cesar Alvarez will join its board of directors.
Haynes and Boone is advising ESL Investments, a hedge fund controlled by Sears Holdings CEO Edward Lampert, on the reduction of its stake in the struggling retail giant, which is seeking to sell off its Lands’ End and Sears Auto Center businesses in an effort to cut costs and pay down debt.
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