Sears chairman prevails in bankruptcy auction

18 January 2019 (Updated: 06:59 GMT)
The embattled retailer Sears reached a roughly USD5 billion deal with chairman Eddie Lampert for a takeover bid via his ESL Investments hedge fund that would keep the company, including about 400 stores, in operation. The deal came after days of negotiations and concerns about the bid’s ability to cover Sears’ administrative expenses, including vendor payments and advisory fees...