Eddie Lampert Makes $4.6 Billion Bid to Keep Sears Alive (1).

The new bid is designed to head off outright liquidation of Sears, which has struggled to get support from lenders and suppliers who aren't sure that the iconic retailer can survive, and Lampert's new bid may not quell those doubts. Lampert, who holds about $2.6 billion of Sears borrowings, would convert much of that stake into equity of the reorganized business. [Extracted from the article]