Sears Holdings chairman and investor Eddie Lampert may have profited from the company's plunge into bankruptcy, a group of creditors alleged Tuesday.

A committee organized to represent the retailer's unsecured creditors in court accused Lampert and his hedge fund ESL Investments of potentially structuring deals to gain an unfair edge as the company declined.

They "may have exercised undue influence to siphon value away from the Company on favorable terms," the creditors group said in a court filing. Detroit Free Press