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Sears Avoids Liquidation as Eddie Lampert Wins Bankruptcy Auction

Business Insider
  • Sears chairman Eddie Lampert has reportedly won a bankruptcy auction to keep the 126-year-old retailer from liquidating.
  • Lampert's bid will keep about 400 stores open and retain 50,000 jobs.
  • "While there is no doubt that a shrunken Sears will be more viable than the larger entity which struggled to turn a profit, we remain extremely pessimistic about the chain's future," said Neil Saunders, CEO of GlobalData Retail...
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