Sears CEO Offers to Potentially Buy Sears Units and Kenmore Brand

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Eddie Lampert, who is the CEO of Sears Holding, as well as a hedge fund investor, has offered to buy the Kenymore brand as well as other assets of Sears.

Lampert’s hedge fund ESL Investments has sent a letter to Sears this past Friday that offered to workout a deal to help Sears make some money.

According to the letter, ESL, “would be open to making an offer for Sears’ real estate,” which would include assuming the $1.2 billion in secured debt tied to those assets.

In such a deal, ESL would then lease some or even all of the stores back to Sears in order to “allow for their continued operation.”

Lampert’s hedge fund has even offered to buy Sear’s SHIP home improvement division and Parts Direct business.

ESL wrote, “We continue to see value in Sears and its underlying assets and believe strongly that with an appropriate runway Sears will be able to complete its transformation to respond to the challenging retail environment.”

Disclaimer: We have no position in Sears Holdings Corp. (NASDAQ: SHLD) and have not been compensated for this article.