Sears Wins Reprieve from Liquidation

(From CNBC)

Department store chain Sears won a reprieve from liquidating Friday after its chairman, Eddie Lampert, submitted a $4.4 billion bid in an effort to buy the retailer and keep it alive . . .

Friday’s offer, which Lampert submitted through an ESL affiliate, Transform Holdco, is for 425 of Sears’ stores.

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