Sears Submits $4.4 billion Bid In Effort To Avoid Bankruptcy
- 5 years ago
In a bid to keep 425 Sears stores open, chairman Eddie Lampert submitted a $4.4 billion bid on Friday.
The bid could save Sears from closing its doors and keep up to 50,000 of its 68,000 workers employed.
Lampert has blamed the company's decline partially on the media, changes in consumer spending, and the rise of online shopping.
However, analysts and critics say the company's demise is the result of years of underinvestment in stores.
The bid could save Sears from closing its doors and keep up to 50,000 of its 68,000 workers employed.
Lampert has blamed the company's decline partially on the media, changes in consumer spending, and the rise of online shopping.
However, analysts and critics say the company's demise is the result of years of underinvestment in stores.