Hoffman Estates

Sears’ biggest holder bids $4.6B for rest of bankrupt chain

Eddie Lampert and his ESL Holdings hedge fund are offering to buy the rest of Sears for up to $4.6 billion in cash and stock. The Sears chairman and ESL own just under half of the Hoffman Estates, Illinois, company, according to FactSet. Sears filed for Chapter 11 bankruptcy protection in October, weighed down by … Continue reading Sears’ biggest holder bids $4.6B for rest of bankrupt chain

NEW YORK | Former Intel boss Brian Krzanich to lead CDK Global

NEW YORK — The former CEO of Intel is being named as the top executive at CDK Global, a company that provides technology to auto dealers. Brian Krzanich resigned from Intel in June after the company learned that he had carried on a consensual relationship with an employee. He had held the top job at … Continue reading NEW YORK | Former Intel boss Brian Krzanich to lead CDK Global

Claire’s, the ear-piercing mall chain, files for bankruptcy

NEW YORK /March 19, 2018 (AP)(STL.News) — Claire’s, the mall chain that has pierced the ears of millions of teens, has filed for Chapter 11 bankruptcy protection. The company said Monday that its stores will remain open as it restructures its debt. It’s just the latest retailer to seek bankruptcy protection, close stores or go … Continue reading Claire’s, the ear-piercing mall chain, files for bankruptcy

Sears raises $100M in new financing, eyes $200M in cost cuts

HOFFMAN ESTATES, Ill/January 10, 2018(AP)(STL.News)— Sears is raising $100 million in new financing, will seek twice that from other sources, and will attempt $200 million in additional cost cuts this year unrelated to store closings. Shares rose more than 5 percent before the opening bell on new efforts to keep the beleaguered company afloat. Sears … Continue reading Sears raises $100M in new financing, eyes $200M in cost cuts