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.
Sears executives were going to ask bankruptcy judge Robert Drain if the Hoffman Estates, Illinois-based company can proceed with liquidation,…
