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.

Year’s End Could Bring End to Sears

According to a report from CNBC, Sears chairman Eddie Lampert and his hedge fund, ESL Investments, only have until the end of the day today to officially submit a bid to buyout and potentially save the 125-year-old Sears company.

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.

In Last Minute Shake-Up, Cyrus Becomes DIP Lender for Sears

According to Bloomberg, in a dramatic last minute deal, Cyprus Capital Partners agreed to provide Sears Holding junior DIP financing, scuttling the company’s prior agreement with Great American Capital Partners.

Sears to Sell Home Improvement Biz; Sidley Advising Stalking Horse Bidder

Sears Holdings is seeking court approval for Service.com to serve as a stalking horse bidder on the Sears Home Improvement business in a Section 363 sale. Sidley Austin is advising Service.com on the transaction.

Sears Directors Hire Evercore to Examine Lampert’s Deals

Reuters reported two Sears Holdings’ board directors have hired investment bank Evercore to examine deals led by the company’s former CEO Eddie Lampert.

Sears Chairman Lampert Looking for Bankruptcy Financing Partners

Reuters reported that Sears chairman Eddie Lampert is holding discussions with Cyrus Capital Partners to share the $30 million financing to support the company’s Chapter 11 effort.

BofA, Wells Fargo, Citigroup Push Sears to Liquidate

The Wall Street Journal reported that Sears Holdings’ biggest lenders are pushing the retailer to liquidate its assets in a Chapter 7 bankruptcy filing.