RE­TAIL: Chair­man Lam­pert of­fers to buy what’s left of Sears

Milwaukee Journal Sentinel - - Business - From Jour­nal Sen­tinel and As­so­ci­ated Press re­ports

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.

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