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Shares of Sears fall to record low as CEO Lampert's hedge fund eyes Kenmore

Lauren Thomas

Sears shares hit a new all-time low of $1.27. Earlier in the week, Sears CEO Eddie Lampert's hedge fund, ESL Investments, said it would buy the Kenmore brand from Sears for $400 million in cash, should it secure additional financing. Sears' stock has fallen 84 percent over the past 12 months, bringing the retailer's market cap to about $144 million.