Sears Holdings Corp. confirmed rumors with a statement saying it had selected chairman Eddie Lampert’s ESL Investments as the winning bidder in the company's bankruptcy auction.
Gymboree has filed for Chapter 11 bankruptcy protection for the second time in less than two years. But this time it has no plans to revamp its business.
According to a report in the Wall Street Journal, Eddie Lampert has managed to avoid the liquidation of Sears after sweetening his bid for the ailing chain.