Sears Holdings Corp. Chief Executive Edward Lampert is offering to purchase the Kenmore appliance brand and other Sears units after the struggling company was unable to find other buyers for the assets, breaking apart his retail empire in a bid to save it.
Mr. Lampert, through his hedge fund ESL Investments Inc., which currently owns a controlling stake in the retailer, said in a letter to the Sears board that ESL is willing to buy Sears’ home-improvement business and its Parts Direct business and is willing to submit a proposal...