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.
Albertsons managed steady growth in the third quarter, driven by solid identical-store performance, growth in e-commerce and record-high penetration among its private-label products.
