CHICAGO — At presstime, Sears Holdings Corp. chairman Eddie Lampert submitted a revised bid in a last-ditch attempt to save the retailer from liquidation. The new bid, $5 billion for the retailer through his hedge fund ESL Investments, is adding about $600 million to a prior bid that should help ESL clear bars to a
CHICAGO — Sears Holdings Corp. chairman Eddie Lampert won out in a bankruptcy auction for the U.S. department store operator with an improved takeover bid of roughly $5.2 billion, allowing the 126-year-old retailer to keep its doors open, The Wall Street Journal and other published sources reported Wednesday. Lampert’s bid, upped from an earlier $5
CHICAGO – Sears chairman Eddie Lampert has submitted a revised bid in a last-ditch attempt to save the retailer from liquidation. The new bid, $5 billion for the retailer through his hedge fund ESL Investments, is adding about $600 million to a prior bid that should help ESL clear bars to a buyout set by
CHICAGO — Sears, which owns Kmart alongside its flagship retail brand, announced this week that 40 more Kmart and Sears stores will close in the near future. The iconic retailer, which filed for Chapter 11 bankruptcy protection last month, said that it will close another 40 Sears and Kmart stores in February, in addition to
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of two storied firms that once ranked as the nation’s two largest retailers, announced Monday morning that it had filed for Chapter 11 bankruptcy. The company’s reorganization plan calls for the closure of 142 additional Sears and Kmart stores, in addition to the previously announced
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has announced plans to close 150 nonprofitable Kmart and Sears stores and sell its Craftsman tools brand. The moves are part of a strategic plan to stem losses and strengthen the struggling retailer’s financial prospects. The company has also arranged new financing, in the form of a new $500
HOFFMAN ESTATES, Ill. — A round of store closings announced by struggling Sears Holdings Corp. will include 68 Kmart locations. Sears Holdings said late Thursday that it plans to shut 78 stores in 27 states, including 10 Sears stores. All of the Sears stores and virtually all of the Kmart stores will close in late
