Sears might make it after all
Sears may have life after bankruptcy. The company has accepted a bid from chairman and former CEO Eddie Lampert that could keep as many as 425 stores operating, according to a source familiar with the process. Lampert was CEO of Sears Holdings until its October 15 bankruptcy filing, and his $5 billion bid — made through his hedge fund — was the only proposal to keep stores open. Lampert's bid also included jobs for 50,000 Sears employees.