Consumer News
By Mark Huffman
01/11/2019 | ConsumerAffairs | Sears and Kmart News
Photo via Twitter
It’s likely to be an anxious weekend for as many as 68,000 Sears and Kmart employees as their jobs continue to hang in the balance. But late week events make their prospects appear a little brighter.
Afterall, at mid-week, their company Sears Holdings petitioned a bankruptcy judge to let it close its remaining stores and liquidate its assets, saying former CEO Eddie Lampert’s $4.4 billion offer to buy the remaining assets wasn’t good enough.
But Lampert has raised his bid to $5 billion, and the judge said Lampert can bid for the assets in Monday’s bankruptcy audition. In a filing, Lampert’s hedge fund, ESL Investments, said it has formed a new company called Transform Holdco LLC that will make a new offer to buy the company’s assets and operate its most profitable retail stores.
everything I say is just my opinion - never invest/trade based on anything I say
