UPDATE: Sears May Stay Open For Now
(Hoffman Estates, IL) — Sears may have just been given a lifeline as the threat of bankruptcy looms large. Reports say attorneys for Sears have accepted a new bid from chairman and former CEO of Sears Eddie Lampert. The deal would reportedly keep 425 of the stores open. Details of the new offer have not been made public yet. The 126-year-old company with more than 50-thousand employees is on the path to liquidation. Sears, which also owns Kmart, filed for bankruptcy last October.
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John McDade//jas
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TTWN Media Networks LLC
01-08-2019 12:48:07
Sears Plans to Dissolve After 126 Years in Business
(Undated) — Sears Holdings plans to dissolve after rejecting Chairman Eddie Lampert’s four-point-four-billion-dollar bid to save the company. The 126-year-old company with more than 50-thousand employees is on the path to liquidation. Sears, which also owns Kmart, filed for bankruptcy last October. Lampert’s hedge fund ESL Investments plans to protest Sears’ decision.
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Candace Gordon/jas
Copyright © 2019
TTWN Media Networks LLC
01-08-2019 08:52:10