Sears Staves Off Liquidation, Stores To Remain Open

NEW YORK (AP) — Sears will live on— at least for now.The company's chairman and largest shareholder and chairman, Eddie Lampert, won a bankruptcy auction for Sears in New York, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The person agreed to speak on condition of anonymity because they were not authorized to discuss the negotiation publicly.Lampert was the only one to put forth a proposal to rescue the [...]

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    Within five years, Sears Holdings began to cut stores to remain in business. Lampert tried to bail Sears out financially. However, the sums he put into the company were insufficient to halt a ...
    12/11/2023 - 1:31 am | View Link
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