CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
MajorsFeb 14, 2019
Sears Chairman Completes $5.2 Billion Acquisition
Eddie Lampert’s multi-billion-dollar bid will keep more than 400 Sears and Kmart stores open.
About 425 Sears and Kmart stores will stay open after Chairman Eddie Lampert’s ESL Investments Inc. bought the company out of bankruptcy.
New York—In the latest chapter of the Sears saga, Chairman Eddie Lampert’s private equity firm ESL Investments Inc. has completed its acquisition of Sears Holdings’ assets, the company confirmed Monday.
The retail giant filed for Chapter 11 in October, but former CEO Lampert submitted a $4.4 billion bid for the company.
After the acceptance deadline for that bid passed without a word from Sears, ESL upped its bid to $5.2 billion, which was accepted.
As per the deal, more than 223 Sears and 202 Kmart stores will remain open, keeping around 50,000 workers employed.
“The best possible outcome has now been realized for all stakeholders, including Sears’ many associates, Shop Your Way members, vendors and other partners. ESL looks forward to a new era at Sears and Kmart that builds on their proud histories, while finding new ways to innovate and grow to adapt to the forces transforming the retail industry,” Lampert said.
Whether or not the iconic retailer will be able to regain traction remains to be seen, but Lampert said he plans to return Sears to profitability in fiscal 2019.
Currently, the role of CEO of Sears Holdings is shared among Chief Financial Officer Robert A. Riecker, Chief Digital Officer Leena Munjal and Softlines President Greg Ladley, but Sears is on the lookout for someone to fill the role.
Sears did not respond to a request for comment regarding the timeline for finding a new CEO.
Once a heavyweight in the retail space, Sears’ shrinking presence may give other department stores a leg up, according to Moody’s Investors Service.
“As Sears continues to shrink its footprint following its Chapter 11 filing, department stores in locations that overlap with Sears stores, such as Macy’s, J.C. Penney and Dillard’s, will have the opportunity to pick up new customers,” Christina Boni, a Moody’s VP-senior credit officer, said in a research note.
“Last year we saw a similar situation, with the bankruptcy of Bon-Ton positively affecting sales for Macy’s and Kohl’s.”
More on Majors
The Latest
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
