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Eddie Lampert won a bankruptcy auction for Sears with a plan that will keep the rtailer in business and seek to save tens of thousands of jobs, according to a person with knowledge of the discussions.

Eddie Lampert’s ESL Investments submitted an improved offer of more than $5 billion in an attempt to keep Sears Holdings Corp. in business.

Eddie Lampert will get another shot at keeping Sears Holdings Corp. from liquidation. The Sears chairman and former CEO must put up $120 million by Jan. 9 to get a chance to take part in an auction against other bidders.

Sears representatives summoned liquidation firms and other advisers to emergency meetings on Jan. 4 after rejecting Lampert’s $4.4 billion bid to buy and operate Sears stores.

NEW YORK — Sears filed for Chapter 11 bankruptcy protection Oct. 15, buckling under its massive debt load and staggering losses. The question now is whether a smaller version of the company that once towered over the American retail landscape can remain viable or whether the iconic brand will be forced out of business

Canadian American Transport Holding Inc. announced that it has acquired SLH Transport in Kingston, Ontario — a move that triples the size of its truck fleet in Canada and provides stability for employees of SLH Transport, a carrier whose owner, Sears Canada, filed for bankruptcy protection in June.

Shipowner and operator Rickmers Maritime shut down its business and sold off its entire fleet after a last-ditch debt restructuring deal was rejected by its major creditors.

After almost 100 years of doing business, Joliet,Ill.-based Central Grocers filed for Chapter 11 bankruptcy May 4 and will lay off about 550 employees at the company's Joliet warehouse.

The parent company of Total Transportation Services Inc. filed voluntarily for Chapter 11 reorganization bankruptcy in federal court in Delaware, citing legal difficulties relating to independent contractors and the California Labor Commissioner.

The trustee for TransVantage Solutions Inc., a bankrupt freight bill payment firm, is suing more than 500 truckers and other transport companies in a bid to recoup hundreds of millions of dollars by claiming payments made over several years were improper.