Sears said in a regulatory filing yesterday that a hedge fund owned by the chief executive of Sears Holdings Corp., Edward Lampert, has offered to buy the company’s Kenmore appliances brand for $400 million in cash, Reuters reported. ESL Investments also made an offer to buy the Home Improvement business of the company’s home services division for as much as $80 million in cash, according to the filing with the U.S. Securities and Exchange Commission. The offer for Kenmore is conditional on ESL receiving equity financing from a potential partner, according to the filing. No partner was named. Lampert said in April that Sears should sell its Kenmore brand, home improvement businesses and real estate, and that ESL Investments would bid in any sale.
