Lampert's Bid for Sears Approved
A U.S. court has approved Sears Holdings' $5.2 billion sale to chairman Eddie Lampert and his hedge fund ESL Investments, according to RetailDive.com.
The decision comes despite objections by Sears’ unsecured creditors committee, which is currently awaiting court approval to file a lawsuit against the company.
Outside litigation against ESL and Lampert may continue as well.
ESL’s bid details a plan to keep 425 stores open.