Sears Holdings Corp. is facing a familiar foe in its bid to sell off the Kenmore appliances brand: the U.S. government body that oversees the pensions for the company’s 100,000 retirees.
Sears Chief Executive Eddie Lampert’s hedge fund, ESL Investments Inc, submitted bids last week of $400 million and $70 million for Kenmore and the department store’s home improvement business, respectively.
