Business News Eddie Lampert

  • Jan 18- Pension Benefit Guaranty Corp is taking steps to assume responsibility for bankrupt retailer Sears Holdings Corp's two pension plans, covering about 90,000 people, the U.S. government agency said on Friday. The agency is stepping in to oversee the retirement benefits of employees and retirees at Sears, Roebuck and Co and Kmart Corp as it is clear that...

  • Jan 17- Sears Holdings Corp Chairman Eddie Lampert won a bankruptcy auction to buy the once iconic U.S. retailer after presenting an improved offer of $5.2 billion, Sears said on Thursday, allowing it to keep its more than 400 stores running. Sears picked Lampert's hedge fund ESL Investments Inc as the winner at a bankruptcy court-supervised auction after his...

  • Jan 17- Sears Holdings Corp said on Thursday its chairman Eddie Lampert won a bankruptcy auction for the U.S. department store chain with an improved takeover bid of $5.2 billion, allowing the 126- year-old retailer to keep its doors open. Lampert's bid, higher than his earlier $5 billion offer, comes after weeks of deliberations that culminated in a days-long...

  • Eddie Lampert

    Sears reached a roughly $5 billion deal with Chairman Eddie Lampert to keep the company and about 400 stores open.

  • NEW YORK, Jan 16- Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126- year-old retailer to keep its doors open, people familiar with the matter said Wednesday. The billionaire's proposal, made through his hedge fund ESL...

  • A customer enters a Sears Holdings Corp. store in San Bruno, California, U.S., on Friday, Dec. 28, 2018.

    Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion (4.04 billion pounds), allowing the 126-year-old retailer to keep its doors open, people familiar with the matter said Wednesday.

  • NEW YORK, Jan 16- Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126- year-old retailer to keep its doors open, people familiar with the matter said Wednesday. The billionaire proposal, made through his hedge fund ESL Investments...

  • NEW YORK, Jan 15- Negotiations between Sears Holdings Corp Chairman Eddie Lampert and the bankrupt U.S. department store operator approached a resolution late on Tuesday as the billionaire hedge fund manager faced the choice of improving his $5 billion offer for the company or ending his takeover plans, people familiar with the matter told Reuters.

  • A woman walks by a Sears store in Brooklyn on October 15, 2018 in New York City. The iconic American retailer has filed for Chapter 11 protection from creditors early on Monday, listing more than $10 billion in debts and more than $1 billion in assets.

    On Monday, Sears will consider bids for its assets, including a last-ditch $5 billion proposal by chairman and controlling shareholder Eddie Lampert.

  • Jan 10- Sears Holdings Corp Chairman Eddie Lampert confirmed on Thursday he has made a new takeover bid of more than $5 billion for the company, an offer that may significantly increase the likelihood the U.S. department store will be able to stay in business. "We believe our proposal will provide substantially more value to stakeholders than any other option, in...

  • Jan 10- Sears Holdings Corp Chairman Eddie Lampert submitted a revised takeover bid of more than $5 billion for the company, according to a regulatory filing made on Thursday, significantly increasing the likelihood the U.S. department store will be able to stay in business. Sears set a Wednesday deadline for Lampert to submit a new offer for the retailer and a...

  • Jan 10- Sears Holdings Corp Chairman Eddie Lampert submitted a revised takeover bid of more than $5 billion for the company, according to a regulatory filing made on Thursday, significantly increasing the likelihood the U.S. department store will be able to stay in business. Sears set a Wednesday deadline for Lampert to submit a new offer for the retailer and a...

  • NEW YORK, Jan 9- Sears Holdings Corp Chairman Eddie Lampert submitted a revised roughly $5 billion takeover bid for the company on Wednesday, people familiar with the matter said, boosting the chances that the U.S. department store operator will escape liquidation. The billionaire's revised bid was submitted through an affiliate of his hedge fund, ESL...

  • Eddie Lampert

    It could not be immediately determined whether Chairman Eddie Lampert will be able to pull together an offer for Sears that sufficiently addresses a prior bid's shortcomings.

  • A woman walks by a Sears store in Brooklyn on October 15, 2018 in New York City. The iconic American retailer has filed for Chapter 11 protection from creditors early on Monday, listing more than $10 billion in debts and more than $1 billion in assets.

    As bankrupt Sears inches toward liquidation, Amazon on Monday became the most valuable public company in the world, surpassing Microsoft.

  • Jan 8- As Sears Holdings Corp teeters on the brink of liquidation, its employees are pushing for a hardship fund they hope can replicate the success of bankrupt retailer Toys' R' Us, whose workers collected $20 million in severance pay from its former owners. Others like Bon-Ton Department Stores and Toys' R' Us have gone out of business. In the case of Sears, if...

  • Customers leave a Sears  store November 29, 2007 in Chicago, Illinois.

    CNBC's Lauren Hirsch and Courtney Reagan join 'The Exchange' to discuss the latest in the Sears saga following the judge's decision to give Sears chairman Eddie Lampert more time to secure his bid.

  • A Sears store in Manchester, N.H.

    A bankruptcy judge is giving Sears Chairman Eddie Lampert another chance to buy the company out of bankruptcy and save roughly 50,000 jobs.

  • Sears plans to liquidate after after 126 years in business

    Sears Holdings remains alive after a bankruptcy judge gave Chairman Eddie Lampert more time to sweeten his bid and save the 126-year-old company. Sears, which also owns Kmart, had planned to announce its liquidation plans Tuesday morning, according to people familiar with the matter.

  • Sears to ask bankruptcy judge to liquidate: Reuters

    CNBC's Courtney Reagan reports on the latest regarding the Sears bankruptcy.