Content about ESL Investments

March 16, 2012

In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

In a filing with the U.S. Securities and Exchange Commission on Wednesday and reported by Reuters, Sears said ESL made a deal on Jan. 26 with a financial institution to acquire 80% interest in an agreement designed to ensure payment to vendors in the event of a bankruptcy filing by a company.