Sears has won a reprieve in a desperate attempt to stave off its own demise. The company’s largest shareholder and chairman, Eddie Lampert, won a bankruptcy auction in New York, per a source familiar… Money News Summaries.
(Newser)
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Sears has won a reprieve in a desperate attempt to stave off its own demise. The company’s largest shareholder and chairman, Eddie Lampert, won a bankruptcy auction in New York, per a source familiar with negotiations. Lampert had upped his bid to more than $5 billion in recent days, the AP reports. Lampert, who steered the company into bankruptcy protection, may be able to keep the roughly 400 remaining Sears stores open, which would mean tens of thousands of jobs are saved, at least for now.
