RETAIL: Chairman Lampert offers to buy what’s left of Sears
Eddie Lampert and his ESL Holdings hedge fund are offering to buy the rest of Sears for up to $4.6 billion in cash and stock in a move to stave off liquidation. The Sears chairman and ESL founder owns just under half of the Hoffman Estates, Illinois, company, according to FactSet. Sears filed for Chapter 11 bankruptcy protection in October, weighed down by years of declining sales and massive debt. It then said it would shutter 142 unprofitable stores in the hopes that it could stay in business.