Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
MajorsJan 02, 2019
Sears Chairman Bids $4B to Save the Company
If accepted, the bid would save the chain from liquidation, preserving 425 stores and as many as 50,000 jobs.
Richard W. Sears and Alvah C. Roebuck started Sears in 1893 as a mail-order catalog business that sold watches to farmers, which was innovative at the time. Today, the retailer’s survival hinges upon a last-minute bid by Chairman Eddie Lampert.
New York—Sears Holdings Corp. Chairman Eddie Lampert has submitted a $4.4 billion bid to keep afloat at least a portion of the 125-year-old retailer, which owns both Sears and Kmart.
Lampert entered the bid through Transform Holdco LLC, an affiliate of his private equity firm, ESL Investments Inc.
According to a statement from Transform Holdco, the going concern bid includes $1.3 billion in financing from “three leading financial institutions” and is for 425 Sears and Kmart stores, a little more than half the number of stores Sears had when it filed for bankruptcy this fall.
If the bid is accepted, Transform said it would employ up to 50,000 people, reinstate severance for eligible employees and assume certain warranties for customers who purchased appliances, televisions and tractors at Sears’ stores.
ESL Investments announced its intention to bid about $4 billion for Sears Holdings Corp. earlier this month and made it formal by submitting it just under the bid deadline, which was 4 p.m. on Dec. 28.
It is now up to the advisers overseeing the Sears bankruptcy to decide what is in the best interest of the company and its creditors: liquidation or carrying on as a smaller company.
According to the Sears bankruptcy website, they will decide on Jan. 4 whom the qualified bidders are—including if Transform Holdco is one of them. If necessary, an auction among qualified bidders will take place Jan. 14.
Also on Dec. 28, Sears announced its intent to close 86 more stores—34 Kmart and 52 Sears locations.
The list includes stores in more than 30 states nationwide, from California to New York. It is available in its entirety on the bankruptcy website (Docket #1444).
Sears had 687 stores when it filed for bankruptcy and said at the time it wanted to save the approximately 400 that were “economically viable” while closing at least half of the remaining 287 stores.
Started in 1893 as an innovative catalog retailer that sold everything, including kits to build houses, Sears has struggled to find its footing in the internet age.
After years of closing stores in an effort to combat declining sales, the Hoffman Estates, Illinois-based company filed Chapter 11 in October in federal bankruptcy court in New York.
Lampert was CEO at the time Sears Holdings filed Chapter 11 but stepped down, with a team of three executives currently overseeing day-to-day operations.
Editors' Picks
Sponsored by
More on Majors
The Latest
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
FinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown DiamondsThe company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
