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Sears Gets Closer To Liquidation

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According to Business Insider, Sears is inching closer to liquidation. A long-standing liquidator is now first in line to start shutting down Sears Holding Company. Sears board is currently negotiating with Chairman Edward Lampert over his $4.4 billion takeover bid. If its unsuccessful, liquidators Closter, New Jersey-based Abacus Advisory Group LLC will step in. They will sell the chain's vast inventories of tools, appliances and store fixtures. Lampert's bid would preserve 425 Sears stores and up to 50,000 jobs across the United States. A liquidation would put roughly 68,000 people Sears now employs out of work.

Added on the 07/01/2019 08:18:07 - Copyright : Wochit

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