Latest Eddie Lampert News

Sears' biggest holder bids $4.6B for rest of bankrupt chain

Dec. 6, 2018 4:07 PM EST

NEW YORK (AP) — 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 own just under half of the Hoffman Estates, Illinois, company, according to FactSet. Sears...

Hedge fund run by Sears CEO Eddie Lampert want to spend $4.6 billion to take control of the storied department store

Dec. 6, 2018 9:02 AM EST
NEW YORK (AP) — Hedge fund run by Sears CEO Eddie Lampert want to spend $4.6 billion to take control of the storied department store .

Sears suppliers haunted by ghost of Toys R Us

Oct. 25, 2018 2:10 PM EDT

NEW YORK (AP) — Since filing for Chapter 11 bankruptcy, Sears Holdings Corp. has been trying to convince suppliers to keep shipping it merchandise by touting the $300 million in financing it has secured so that its business can continue operating through the holidays. But a growing number of manufacturers...

The Amazon of its day, Sears' woes were years in the making

Oct. 16, 2018 12:06 AM EDT

Before there was Amazon — or, for that matter, Home Depot or Walmart or Kmart — there was Sears. From its beginnings as a mail-order watch business in Minneapolis 132 years ago, the company grew to become America's everything-under-one-roof store and the biggest retailer in the world. For...

Girdles and socket wrenches: Sears was the Amazon of its day

Oct. 15, 2018 5:16 PM EDT

Before there was Amazon — or, for that matter, Home Depot or Walmart or Kmart — there was Sears. From its beginnings as a mail-order watch business in Minneapolis 132 years ago, the company grew to become America's everything-under-one-roof store and the biggest retailer in the world. For...

The Latest: Whirlpool brushes off Sears bankruptcy

Oct. 15, 2018 1:59 PM EDT

NEW YORK (AP) — The Latest on the filing for bankruptcy protection by the Sears Holding Corp. (all times local): 1:15 p.m. Appliance maker Whirlpool says that it expects a "very limited impact" to its business from Sears' descent into bankruptcy protection. The company, known for refrigerators, washing...

Sears files for Chapter 11 amid plunging sales, massive debt

Oct. 15, 2018 1:43 PM EDT

NEW YORK (AP) — Sears filed for Chapter 11 bankruptcy protection Monday, with plans to shutter 142 unprofitable stores in the hopes that it can stay in business. The question now is whether a smaller version of the company that once towered over the American retail landscape can be viable. Sears, which...