The former Sears ceo wants to buy all of Sears’ spin-off Hometown & Outlet Stores.
Lampert needs to make an additional $120 million deposit to keep his $4.4 billion bid alive and secure a place at the auction.
He plans a separate bid for certain assets if the ESL offer fails to get “qualifying bid” status.
The company missed the deadline to find a new buyer while announcing the closure of 80 more stores.
The closures were first revealed when Sears filed for bankruptcy in October.