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Sears

Lampert wins bid to keep Sears open for now

Lampert wins bid to keep Sears open for now

CHICAGO — Sears Holdings Corp. chairman Eddie Lampert won out in a bankruptcy auction for the U.S. department store operator with an improved takeover bid of roughly $5.2 billion, allowing the 126-year-old retailer to keep its doors open, The Wall Street Journal and other published sources reported Wednesday. Lampert’s bid, upped from an earlier $5

Sears files for Chapter 11 bankruptcy

Sears files for Chapter 11 bankruptcy

HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of two storied firms that once ranked as the nation’s two largest retailers, announced Monday morning that it had filed for Chapter 11 bankruptcy.  The company’s reorganization plan calls for the closure of 142 additional Sears and Kmart stores, in addition to the previously announced

Sears Holdings takes action to stabilize financial footing

Sears Holdings takes action to stabilize financial footing

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has announced plans to close 150 nonprofitable Kmart and Sears stores and sell its Craftsman tools brand. The moves are part of a strategic plan to stem losses and strengthen the struggling retailer’s financial prospects. The company has also arranged new financing, in the form of a new $500