Sears chairman Eddie Lampert submitted a revised takeover bid of more than $5 billion for the embattled company, which was made through an affiliate of his hedge fund, ESL Investments.
The relentless growth of hard-discount retailers and the increasing adoption of online shopping will keep pressure on traditional retailers in the year ahead, according to analysts.
Wegmans will debut in New York City with a 74,000-sq.-ft. store at the Brooklyn Navy Yard that is to feature second-floor mezzanine with nearly 100 seats for the in-store market café.
Sears agreed to consider a revised takeover bid from chairman Edward Lampert — via an affiliate of its ESL Investments hedge fund — that would keep the company in business.
