Tuesday, January 8, 2019

Reports: Sears Reaches Temporary Deal to Avoid Bankruptcy, Will Keep 425 Stores Open

REBusiness Online
Sears Holdings Corp. (NASDAQ: SHLDQ) has reached a temporary deal to avoid bankruptcy and keep 425 of its stores open, according to media sources.

After it was widely speculated that Sears Chairman Eddie Lampert’s $4.4 billion bid to save the company would be rejected, representatives of Sears agreed Tuesday to a revised bid from Lampert’s hedge fund, ESL Investments, that gives the 126-year-old company another small shot at survival.. . . more