By CCN: Sears is in a downward spiral and it's trying to take down as many others as possible, too, including a top advisor to President Trump. The retailer, which is currently in bankruptcy protection, has filed a lawsuit against its former CEO Eddie Lampert, his hedge fund ESL Investments, Treasury Secretary Steven Mnuchin, and others. Sears filed for Chapter 11 bankruptcy protection six months...
ESL Investments CEO Eddie Lampert has emerged victorious in the Sears Holding Corporation bankruptcy auction with a $5.2 billion bid that potentially saves tens of thousands of jobs and keeps 425 Sears stores open across the United States. Sears Shares Leap after Lampert Wins Bankruptcy Auction Earlier in January, CCN reported that Lampert was granted more time by a judge to up his rejected $4.4...
Proposed offer from Eddie Lampart (former CEO of Sears Holdings) was previously rejected. Eddie Lampart was given one last chance to make an offer on Tuesday January 8th. Sears Holdings accepted a last minute deal, avoiding bankruptcy. CCN previously reported that Sears had rejected a bailout offer and would be liquidating its business instead. Now, at the last minute, Sears has struck a deal to...
Sears Chairman and ESL Investments founder Eddie Lampert will have one more chance to rescue the iconic retail chain from liquidation, a judge ruled on Tuesday. As CCN reported, The 126-year-old retailer had hoped to receive approval from a bankruptcy judge to proceed with liquidation after advisers rejected a $4.4 billion takeover bid from Lampert and ESL. However, according to CNBC, the judge...
One of the most storied companies in American history may have just days left to live, as Sears Holdings Corp has rejected Chairman Eddie Lampert’s takeover bid and intends to proceed with liquidation proceedings. Lampert, via his hedge fund -- ESL Investments -- had cobbled together a $4.4 billion offer for the 126-year-old retailer, but Sears has reportedly rejected that offer. According to...