Lampert Wins Sears Bid

Eddie Lampert, Chair for Hoffman Estates, Ill.-based Sears, has reportedly won the bankruptcy auction for the ailing company.

Though the details are not final and the deal must be approved by a bankruptcy judge, Lampert (through his Greenwich, Conn.-based hedge fund ESL Investments) was the only bidder looking to purchase the company as a whole. He reportedly put forth a bid upwards of $5 billion, according to Star Tribune.

This move will keep at least 400 stores open and out of liquidation as well as save tens of thousands of jobs.