Feb 7, 2019 - Economy

Judge approves $5.2 billion Sears sale to chairman Lampert

Sears logo on cart.

Photo: Justin Sullivan/Getty Images

A bankruptcy judge has approved the $5.2 billion sale of Sears to chairman Eddie Lampert’s hedge fund ESL Investments, saving the struggling store from liquidation, WSJ reports.

Why it matters: The purchase will effectively save 425 stores and 45,000 jobs. Sears has been given another life, but the reality is that the once-iconic retail chain stopped being relevant years ago.

Go deeper: The cannibal of Sears

Go deeper