Sears CEO Calls for Breakup, Offers to Acquire Kenmore

Mony
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Edward Lampert is once again carving up Sears Holdings Corp. in a bid to save his retail empire, proposing that his hedge fund purchase the Kenmore appliance brand and other Sears units after the struggling company was unable to find other buyers.

The Sears chief executive, through ESL Investments Inc., said in a letter to the Sears board that ESL—which currently owns a controlling stake in the retailer—is willing to submit offers for the Kenmore brand, Sears Home Services’ home-improvement business and the company’s Parts…

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