ESL Investments, the hedge fund run by Sears chairman Eddie Lampert, has completed its acquisition of the bankrupt company for approximately $5.2 billion.
A Federal Bankruptcy Court judge on Thursday approved Edward Lampert’s bid through his ESL Investments hedge fund to purchase the struggling retailer’s assets for $5.2 billion.
Retail industry employment in January was down by 15,100 jobs unadjusted from a year earlier, but increased 14,800 jobs seasonally adjusted from December, according to the National Retail Federation.
Sears reached a roughly $5 billion deal on Wednesday 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, CNBC reports.
