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Sears Gets Another Chance Via Lampert Bid

  • , Wednesday, January 16, 2019 5:39 PM
Sears Chairman Edward Lampert’s hedge fund has won a bankruptcy auction for the company with a plan that will keep the retailer in business and potentially save thousands of jobs, a person familiar with the matter told the Chicago Tribune. The bid beat competing proposals that would have forced the 132-year-old department store chain to shut down and sell its assets. But Lampert has been trying to turn Sears around for years and it’s not clear whether he has found a strategy to keep Sears in business for the long haul, an analyst says.

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