Eddie Lampert’s Sears Plan Offers Scraps for Unsecured Creditors

A new, expanded bid for the company would release him from potential legal claims — at a small cost.

(David Paul Morris/Bloomberg)

(David Paul Morris/Bloomberg)

Eddie Lampert and his hedge fund, ESL Investments, have offered a new, enhanced bid for Sears Holdings that may be able to keep the company out of liquidation.

But while the more than $5 billion his current bid offers — about $600 million above one that was earlier rejected by Sears — has a lot more for vendors and employees, it does nothing more to appease Sears’ unsecured creditors.

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