Sears Survives A Near-Death Experience, But For How Long?Many of Sears' unsecured creditors, who rank at the bottom of the list to be paid and include merchandise suppliers and landlords, had pressed for liquidation, contending the business was worth more dead than alive. They also questioned the propriety of certain deals Lampert has done while at Sears.
Sears Avoids Liquidation, Stores To Remain Open After Chairman Wins Auction With $5.2 Billion BidA last-minute reprieve for Sears, after the retailer’s former CEO made the winning takeover bid in a bankruptcy auction.
Win Or Lose, Sears' Chairman May Still Come Out On TopSears' fate has been twisting in the wind for years, but since its bankruptcy filing, its demise has appeared imminent. At its peak in 2012, its stores numbered 4,000, a far cry from the just under 700 stores and 68,000 workers it had as of October.
Sears Lives To See Another Day As Its CEO Tries To Buy The RetailerMany employees and customers are in shock. Many thought liquidation was inevitable. But now the 126-year-old company may have one lifeline left.
BREAKING: Sears Reaches 11th Hour Deal To Stay In BusinessAfter two long delays at a morning hearing in bankruptcy court, attorneys for Sears announced it had accepted a revised bid from a hedge fund controlled by Eddie Lampert, the chairman and former CEO of Sears. The deal could keep 425 of the stores open.
Sears' Fate Hinges On Outcome Of Today's Bankruptcy HearingHoffman Estates-based Sears and discount retailer Kmart could join the growing list of now-defunct American retailers like Toys R’ Us that have been overtaken by digital competition like Amazon.
If Sears Survives, This Is What It Will Look LikeEven if Sears survives bankruptcy, there will be a wide swath of America that no longer has any of its stores.
Sears Future Up In The Air, Could Leave Home Warranties No Good It was a long shot, but Sears lives to see another day.
Reports: Sears Chairman Makes Last-Minute Bid To Save CompanyToday was deadline day for Sears to find a buyer to purchase the company out of bankruptcy. The retail chain is looking for a buyer for about 500 of its stores and the Kenmore appliance brand in an effort to keep Sears and Kmart open.
Sears To Close 80 More Stores As Deadline For Potential Buyers ApproachesFacing a Friday deadline for potential buyers to submit bids for its remaining assets, Sears has announced it is closing 80 more stores by March, including two in Illinois.
Big Deadline For Sears On FridaySears is nearing a crucial deadline that could determine whether it survives.
What's In Store For Sears?"The company has zero chance of success. I hate to say that, because there's still quite a few people in the U.S. at least who look to Sears for their employment, but there's no chance for the future there, in my opinion."