Thursday, November 29, 2018

Sears Entertaining Offers From Liquidators as ESL, Cyrus Prepare Takeover Bid

The Wall Street Journal
Sears Holdings Corp. is considering offers from liquidators that would result in the closure of all its stores while Chairman Edward Lampert and Cyrus Capital Partners prepare a bid that would keep the bankrupt retailer in business, according to people familiar with the matter.

Mr. Lampert, who believes a slimmed-down Sears can emerge from bankruptcy, and Cyrus are expected to make an offer for roughly 500 of Sears’s best-performing stores, the people said.. . . more