Sears Holdings Corp. got another chance at survival after Chairman Eddie Lampert put together a last-minute, last-ditch bid to buy the retailer out of bankruptcy. Lampert persuaded three lenders to finance the $4.4 billion (U.S.) offer, according to a statement from ESL Investments. Sears Holdings Corp. got another chance at survival after Chairman Eddie Lampert put together a last-minute, last-ditch bid to buy the retailer out of bankruptcy. One was a joint bid from Tiger Capital Group LLC and Great American Group LLC, and another came from the team of Gordon Brothers Retail Partners LLC and Hilco Global Merchant Resources LLC, the Journal said. Another distraction came from a Sears plan to raise tens of millions of dollars by selling off some obscure internal debt instruments.

Source: thestar December 29, 2018 03:56 UTC