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Lampert Saves Sears From Liquidation

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According to Business Insider, a federal bankruptcy judge approved the sale of Sears, which will allow the fallen retail giant to avoid liquidation. The move will keep about 400 stores open for business, while retaining an estimated 45,000 jobs. Sears chairman Eddie Lampert will purchase the company through his hedge fund, ESL Investments, for an estimated $5.2 billion. Sears filed for bankruptcy in mid-October last year, which had 687 stores and 68,000 employees at the time.

Added on the 07/02/2019 18:16:13 - Copyright : Wochit

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