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Last-minute bid could keep Sears from being liquidated

Last-minute bid could keep Sears from being liquidated”

It then said it would shutter 142 unprofitable stores in the hopes that it could stay in business.

Sears filed for Chapter 11 bankruptcy protection. The Wicomico County Sears' auto center is scheduled to close in January.

A hedge fund controlled by Lampert is the only entity to publicly disclose a plan to bid.

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Earlier on Friday, Sears said it was closing 80 more stores before the retailer avoided liquidation.

Sears chairman Eddie Lampert proposed to buy out the company as a whole through his hedge fund, ESL Investments, for $4.6 billion. The deal included 500 stores, 50,000 employees, the Kenmore appliance and DieHard tool brands, key real estate and the company's inventory and receivables. The company has been seeking a bidder willing to keep the remaining stores open as part of a reorganization of the business.

Sears has told a bankruptcy court it has received several bids.

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After being detained in El Paso, Texas , he and his father were taken to a local processing centre, where they spent two days. The boy and his father were taken to a temporary site at the Highway 70 checkpoint, where the child received the medication.

Lampert has to make his bid official by the end of the day.

Some Sears creditors, including landlords and vendors, believe shutting down the company is the best way to retrieve the greatest portion of the money Sears owes them. The store, once a shopping mall mainstay, has slowly declined in recent years and was slow to respond to the trend in online shopping.

The Sears store at Towne East Square in Wichita is one of 80 locations closing across the country, the company said Friday. Sears' corporate headquarters was not answering further questions, either. There are smaller Sears Hometown stores in many Minnesota communities.

Trump says 'tremendous opportunity to buy'
Trump's Monday morning tweet heightened fears about the economy being destabilized by a president who wants control over the Fed. Waters said that it was the erratic behavior of the current administration that is causing the volatility in the markets.



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