Sears Prepares For Liquidation As Lampert's 11th Hour Bid Fails

in #sears • 5 years ago

Say Goodbye to an American Icon.

Sears Holdings is preparing to enter liquidation as an 11th hour bid by Eddie Lampert failed.

Lampert offered $4.6 billion to pull 425 stores out of bankruptcy. This would have saved 50,000 jobs which now, barring a last minute change, will be eliminated.

Sears filed for Chapter 11 protection in October. It was the second largest bankruptcy in United States history. The third largest also occurred in 2018, Toys R Us.

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#bankruptcy #lampert #retail #sharingcontent
5 years ago in #sears by
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