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Last-Minute Deal Keeps Sears From Closing for Good

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…

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Last-Minute Deal Keeps Sears From Closing for Good

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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.

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