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Report: Eddie Lampert submits bid to save Sears


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Report: Eddie Lampert submits bid to save Sears

Sears Holdings Corp. Chairman Eddie Lampert submitted a last-minute bid to save the company from liquidation, CNBC reported Dec. 28.

According to the news outlet, bids for the company were due at 4 p.m. ET the same day.

The retailer filed for bankruptcy protection in October. Earlier in December, Lampert's ESL Investments Inc. had shown interest to buy the department store chain for $4.6 billion.

According to Bloomberg News, Lampert is seeking more time to round up financing for his offer. The executive is expecting to get financing from lenders including Bank of America Corp., according to the news outlet.