Sears Chairman Lampert offers to buy bankrupt retailer

FILE PHOTO: The Sears logo is seen outside a store in Brooklyn, New York
FILE PHOTO: The Sears logo is seen outside a store in Brooklyn, New York, U.S., October 10, 2018. REUTERS/Shannon Stapleton/File Photo

December 6, 2018

(Reuters) – Sears Holdings Corp <SHLDQ.PK> Chairman Eddie Lampert’s ESL Partners LP has submitted a $4.6 billion bid to buy the bankrupt retailer, the hedge fund said on Thursday.

Sears, which had filed for bankruptcy protection on Oct. 15, faces a Dec. 15 deadline to find a buyer to keep it in business, according to court papers.

(Reporting by Soundarya J in Bengaluru; Editing by Saumyadeb Chakrabarty)

Free America Network Articles

Leave a Comment