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Sears CEO Submits Bid To Buy Bankrupt Company

ESL Investments, the hedge fund run by Sears chairman and CEO Eddie Lampert, submitted a $4.6 billion bid to purchase Sears’ remaining 500 stores as well as Sears brands Kenmore and DieHard. Sears filed for bankruptcy in October. The acquisition would be via a newly-formed company, called Newco, according to Chain Store Age. ESL “envisages significant strategic initiatives and investments in a right-sized network of large format and small retail stores, digital assets and interdependent operating businesses.”

Read the whole story at Chain Store Age »

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