UTC-05:00,Monday , December 17th 2018
|
English
|

Sears Receives $4.6B Bid to Buy Chain from Bankruptcy

11:38 Thursday , December 06th 2018
Sears Holdings Chairman Eddie Lampert's hedge fund on Thursday, December 6, submitted a $4.6 billion bid to buy the bankrupt retailer, according to a report.

The hedge fund, ESL Partners, has asked to buy Sears' 500 remaining stores and $1.8 billion in the chain's retail inventory, credit card and pharmacy receivables. The offer includes $950 million in cash through an asset-based loan facility and a "credit bid" of $1.8 billion. Lampert would also take on an estimated $1.1 billion in debt and other liabilities.