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.
For the latest news, videos, and podcasts in the Retail Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!