ESL Winning Bidder in Sears Bankruptcy Auction

ESL Investments was selected as the winning bidder in the court-supervised bankruptcy auction of Sears Holdings. ESL will acquire substantially all of the company’s assets for approximately $5.2 billion.

A Sweeter Deal Could Save Both Sears, More Sears Employees

According to two Bloomberg articles, Eddie Lambert’s ESL Investments has increased its bid to purchase Sears to $5 billion and hopes to keep the bankruptcy court in its corner by maintaining more jobs than initially proposed.

Lampert Files Last-Minute $4.4B Bid to Keep Sears in Business

According to the Pittsburgh Post-Gazette, ESL Investments, the hedge fund run by former Sears CEO Eddie Lampert, submitted a $4.4 billion bid to keep Sears afloat, coming in just under the wire before Friday’s filing deadline.

Former Sears CEO Bids $4.6B in Attempt to Rescue Troubled Retailer

Reuters has reported that ESL Investments, the hedge fund run by Sears’ former CEO Eddie Lampert and the store’s largest creditor, has forwarded a $4.6 billion bid to rescue 500 Sears stores from liquidation.

ESL Proposes Buying Kenmore, Sears Home Improvement Biz

Sears Holdings’ board of directors received a letter from ESL Investments, the hedge fund led by the company’s Chairman and CEO Edward Lampert, proposing to buy the company’s Kenmore appliance division, Sears Home Services and PartsDirect.

JPP Agents $100MM Term Loan for Sears

Sears Holdings has raised $100 million in new financing and is pursuing an additional $200 million. JPP, an affiliate of Sears Chairman Edward Lampert’s hedge fund, ESL Investments,, has agented a $100 million term loan for the ailing retailer.

Sears Borrows $100MM from CEO’s Hedge Fund, Can Borrow $100MM More

Sears Holdings amended its loan agreement with lenders controlled by CEO Edward Lampert to borrow an additional $100 million with the understanding it can borrow $100 million more prior to December 1, 2017.

Sears CEO Provides $200MM Credit Line to Support Operations

Business Insider reported that Sears CEO Eddie Lampert, through his hedge fund ESL Investments, agreed to provide Sears with a further $200 million credit line.

Sears Holdings Obtains $500MM Secured Loan Facility

Certain Sears Holdings subsidiaries entered into a $500 million committed secured loan facility provided by entities affiliated with ESL Investments, an entity controlled by Sears’ chairman and CEO.

Sears Obtains $500MM Secured Loan Facility, Closes $750MM Term Loan

Sears Holdings entered into a $500 million committed secured loan facility with ESL Investments and Cascade Investment. The facility together with the closing of a $750 term loan provides $1.25 billion of committed financing.