Hedge fund manager Eddie Lampert has increased his bid for Sears Holding Corp.
Through ESL Investments, Lampert met a 4 p.m. deadline Wednesday in which a $5 billion bid was made, reports say. Lampert, who founded ESL Investments, also is the former CEO of Sears, though he remains chairman.
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…
