Springfield store makes list of locations owner wants to keep open


Eddie Lampert wants to buy Sears in another major effort to revive the decades declining department store.

Lampert, Sears Chairman, runs ESL Investments Inc., a hedge fund that is planning to partner with Cyrus Capital Partners to make a bid. The pair may offer a credit bid, where the two groups would swap debt that they hold for ownership of the stores, people close to the matter told Bloomberg.

»PHOTOS: Luxury condo with downtown view on market for $320K

Sears Holdings filed for bankruptcy last month, after not seeing a profitable year since 2010. The company owes billions of dollars in debt, which CEO Eddie Lampert has pulled out nearly all the stops to pay.

A recent court document opened bidding on the 505 Sears and Kmart stores the company hopes a new owner will continue to operate. Springfield, the only Dayton-area store that hasn’t already been slated to close, is on the list.

But the credit bid wouldn’t be guaranteed, requiring approval from the bankruptcy court. There may also be competing bids.

»PHOTOS: Here’s what local Meijer stores looked like Thanksgiving morning

The Dayton Mall store closed earlier this week. The Beavercreek store is expected to close next month and the store at the Miami Valley Centre Mall will shutter in February.

FIVE FAST READS

How to protect yourself from cyber thieves this shopping season

5 ways new tech will change your holiday shopping experience this year

Store hours: Here’s when retailers will open for Thanksgiving, Black Friday sales

Here are major Black Friday deals you can get right now

Here are the best Black Friday deals in the Dayton area



Reader Comments


Next Up in News

California woman charged after daughter, 8, killed by train
California woman charged after daughter, 8, killed by train

A California woman was arrested on felony child neglect charges Tuesday after her 8-year-old daughter was killed by a train near downtown Fresno, KFSN reported. >> Read more trending news  Joy Frances Collins, 44, had urged her daughter and 9-year-old son to cross the tracks Monday around 6 p.m. because they were trying to catch a bus...
3 bomb scares in weeks: ‘We have to take these things seriously’
3 bomb scares in weeks: ‘We have to take these things seriously’

A suspicious package attached to a parked car outside two restaurants at the Dayton Mall was removed by a robot Monday night as customers of the eateries were kept from their vehicles for hours. The questionable package reported outside Bravo Cucina Italiana and the Rusty Bucket Restaurant and Tavern prompted a nearly five-hour investigation, the third...
New York City mom gives potential car thief 'a whoopin''
New York City mom gives potential car thief 'a whoopin''

Don’t mess around with an angry mom, especially if you are trying to steal her vehicle. >> Read more trending news  A New York City mother taking her son to school, seeing a man attempting to steal her SUV, dragged him out of the vehicle and pinned him to the ground until police arrived, WABC reported. "He's lucky I...
Man caught trying to sell stolen appliances on Facebook, police say
Man caught trying to sell stolen appliances on Facebook, police say

Facebook can be a great place to sell household appliances -- but it's not a great venue to sell stolen ones. >> Read more trending news  Police said a New Mexico man, in a “dumb move,” broke into a house, stole some appliances and then tried to sell them to undercover Rio Rancho police officers on Facebook, KRQE reported...
Bath Twp. vote on fire contracts tonight will end Fairborn agreement
Bath Twp. vote on fire contracts tonight will end Fairborn agreement

Bath Twp. trustees are expected to approve new contracts tonight for fire and EMS service, ending a long-standing relationship with the city of Fairborn. Contracts agreements were reached this week with Bethel, Miami and Beavercreek townships, and Bath Twp. trustees will consider approving the agreements at their meeting tonight. RELATED: A fire contract...
More Stories