Sears Chairman Edward Lampert's hedge fund ESL Investments has submitted a revised $5 billion buyout bid for the retailer, with a $120 million deposit and an agreement to assume bills from vendors and other expenses accumulated since Sears' October bankruptcy filing. Some of those vendors are backing ESL's efforts to buy the chain, which will come before the court in a Jan. 14 auction.
Lampert raises buyout bid for Sears to $5B
Sign up for NRF SmartBrief
News about the U.S. retail industry
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.