Hedge fund manager Eddie Lampert has increased his bid for Sears Holding Corp.
Through ESL Investments, Lampert met a 4 p.m. deadline on Wednesday in which a $5 billion bid was made, reports say.
Sears, a 126-year-old retailer, filed for bankruptcy protection on Oct. 15. If it were to liquidate, hundreds of stores would close and thousands would be out of work. Several Sears and Kmart stores in the Milwaukee area and throughout Wisconsin have already been impacted by closures.
Sears executives…
