NEW YORK | Lampert’s hedge fund makes last-minute bid to save Sears

NEW YORK | Lampert’s hedge fund makes last-minute bid to save Sears

NEW YORK — A hedge fund run by Sears Chairman Eddie Lampert said it submitted a last-minute bid Friday to keep the struggling retailer from being liquidated.

The bid, valued at $4.4 billion, still needs to be approved. A court date is scheduled for the middle of January.

Transform Holdco LLC, an affiliate of Lampert’s ESL Investments hedge fund, said it hoped to keep 425 stores open and 50,000 people working.

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