Sears Holdings C.E.O. and largest shareholder Eddie Lampert has published a proposal to avoid bankruptcy for the department store. The ESL Investments plan would include US$3.22 billion in asset sales, including the sale of property for US$1.47 billion. ESL offered to acquire the property after 12 months if unsold in exchange for cancelling corporate debts.
Sears Holdings C.E.O. and largest shareholder Eddie Lampert has published a proposal to avoid bankruptcy for the department store. The ESL Investments plan would include US$3.22 billion in asset sales, including the sale of property for US$1.47 billion. ESL offered to acquire the property after 12 months if unsold in exchange for cancelling corporate debts.
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