Sears chairman reportedly prevails in bankruptcy auction for retailer with $5.2 billion bid
January 16, 2019 at 03:55 AM EST
Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion (4.04 billion pounds), allowing the 126-year-old retailer to keep its doors open, people familiar with the matter said Wednesday.