Last-Minute Deal Keeps Sears From Closing for Good
- 5 years ago
Last-Minute Deal Keeps Sears
From Closing for Good It stems from a bid by the company's former CEO Eddie Lampert of $4.4 billion. The deal keeps around 425 stores
in the U.S. around at
least temporarily. It also says Lampert must make a $120 million down payment by Wednesday this week. His deal still needs to be approved by a bankruptcy court judge before moving forward. Despite filing for bankruptcy last October, Sears said it would remain in business.
From Closing for Good It stems from a bid by the company's former CEO Eddie Lampert of $4.4 billion. The deal keeps around 425 stores
in the U.S. around at
least temporarily. It also says Lampert must make a $120 million down payment by Wednesday this week. His deal still needs to be approved by a bankruptcy court judge before moving forward. Despite filing for bankruptcy last October, Sears said it would remain in business.