Thu Feb 7, 2019, 06:12 PM

Bankruptcy Judge Gives Sears Another Chance

Feb. 7, 2019 4:06 PM EST

NEW YORK (AP) — A bankruptcy judge has blessed a $5.2 billion plan by Sears chairman and biggest shareholder Eddie Lampert to keep the iconic business going.

The approval means roughly 425 stores and 45,000 jobs will be preserved.

Lampert's bid through his ESL hedge fund overcame opposition from a group of creditors, including mall owners and suppliers, that tried to block the sale and pushed hard for liquidation.

Even with this latest reprieve, Sears' long-term survival remains an open question. Lampert hasn't put forth any specific reinvention plans and the company still faces cutthroat competition from Amazon, Target and Walmart.


1 replies, 121 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Bankruptcy Judge Gives Sears Another Chance (Original post)
RCW2014 Feb 2019 OP
drunk_teddy Feb 2019 #1

Response to RCW2014 (Original post)

Thu Feb 7, 2019, 08:17 PM

1. If Sears was my dog

I would have put it to sleep a long time ago....

Reply to this post

Back to top Alert abuse Link here Permalink