The man who steered Sears into bankruptcy just bought the retailer in a bankruptcy auction. Eddie Lampert bid more than $5 billion to acquire the company — of which he and his hedge fund, ESL Investments Inc., are already the largest creditors and shareholders. The deal forgives $1.3 billion in debt owed to ESL. It also releases Lampert from liability for a series of spinoffs that some creditors allege drained assets from the retailer. The deal still needs to be approved by the supervising judge.
Click the audio player above to hear the full story.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.