Sears staves off liquidation, stores to remain open

In this Feb. 13, 2012 file photo, a worker repairs a sign outside the Sears Grand store in Solon, Ohio. Photo: AP/ Amy Sancetta
In this Feb. 13, 2012 file photo, a worker repairs a sign outside the Sears Grand store in Solon, Ohio.

January 16, 2019 06:46 AM

Sears may have won a reprieve in a desperate attempt to stave off its own demise.

Multiple media outlets reported early Wednesday that billionaire Eddie Lampert has won a bankruptcy auction after strengthening his bid in several days of negotiations with creditors. Lampert, Sears' chairman and largest shareholder, upped his offer to more than $5 billion and added a $120 million cash deposit through an affiliate of his ESL hedge fund.

Advertisement

Connect with KSTP


Join the conversation on our social media platforms. Share your comments on our Facebook, Instagram, and Twitter pages.

Credits

The Associated Press

(Copyright 2019 by The Associated Press. All Rights Reserved.)

Advertisement

Police: 1 dead after officer-involved shooting in Coon Rapids

Trump tried to seize control of Mueller probe, report says

Minneapolis prohibits 'fear-based' training for officers

Noor's former partner takes stand in murder trial

Man charged in connection to shooting of bus driver in Minneapolis pleads not guilty

St. Paul police seek missing 17-year-old

Advertisement