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

Shooting leaves 1 dead in Minneapolis

Special Olympics golfers set record turnout at state tournament

Child shot and killed in Heron Lake home

Proposal for three-digit number similar to '911' for suicide prevention heads to Congress

1 dead, 6 injured after collision in Kanabec County

Camp Angel: Providing a place of comfort for children whose loved ones are battling cancer

Advertisement