Wednesday, January 2, 2019

Sears gets last-minute buyout bid from Lampert

Chain Store Age
Sears Holdings Corp. won a reprieve from liquidation after its chairman submitted an eleventh hour offer to buy the bankrupt chain. But the company’s future remains uncertain.

Sears chairman Eddie Lampert met the Dec. 28 deadline imposed by the company for potential buyers of Sears assets.Transform Holdco LLC, an affiliate of Lampert’s ESL Investments hedge fund, submitted a bid for substantially all of the assets of Sears, including a portfolio of 425 stores, which it valued at $4.4 billion.. . . more