(CNBC) -- A bankruptcy judge is giving Sears Chairman Eddie Lampert another chance to buy the department store chain out of bankruptcy and save roughly 50,000 jobs.
Sears on Tuesday had planned to tell the bankruptcy court it had rejected Lampert’s $4.4 billion offer to buy the retailer, after it fell short of covering its bankruptcy expenses. Lampert, though, protested the decision, highlighting the millions in fees that Sears’ bankruptcy advisors have tallied, a person familiar with the situation told CNBC.
Sears’ bankruptcy lawyers, Weil, Gotshal & Manges, plan to charge Sears their customary hourly rates of $1,075 to $1,600 for work done by its partners and counsel, according to documents filed with the bankruptcy court.
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