Sears Holdings Chairman Eddie Lampert's ESL Investments has made an offer valued at $4.6 billion to buy the bankrupt U.S. retailer, one of the only options that would prevent the department store chain from shutting.
Sears Holdings Corp is in discussions with Chairman Eddie Lampert and lenders on a deal to expand a bankruptcy financing package that would help it avoid liquidation, people familiar with the matter said.
Two Sears Holdings Corp board directors have hired investment bank Evercore to scrutinize deals that were led by former Sears Chief Executive Eddie Lampert with the retailer before it filed for bankruptcy protection.
Sears' Chairman Eddie Lampert is in discussions with at least one potential partner to contribute to a $300 million bankruptcy loan the U.S. retailer is seeking, people familiar with the matter said on Sunday.
Sears Holdings CEO Eddie Lampert is exploring a bid for some of the U.S. retailer's businesses and real estate once it files for bankruptcy, an alternative to a traditional court-supervised reorganization.
Sears Holdings Corp would have to sell more real estate and restructure its debt, Chief Executive Officer Eddie Lampert’s hedge fund said in a regulatory filing, as the retailer looks to avoid bankruptcy.
Sears Holdings Corp reported a smaller decline in quarterly same-store sales on Thursday, but warned again that there is doubt about the company’s continued operation as it awaits approval to sell some of its businesses.