The company's chairman, Eddie Lampert, has won an auction to save the retailer from liquidation.
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Sears reaches deal with Chairman Eddie Lampert to save company and roughly 400 storesSears Holdings reached a roughly $5 billion deal with Chairman Eddie Lampert early Wednesday morning to keep the company, and roughly 400 stores, in operations, according to a person familiar with the situation.
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Ex-Sears CEO Eddie Lampert orchestrated 'scheme' to 'steal' Sears, creditors allegeSears boss and investor Eddie Lampert orchestrated a 'multi-faceted scheme' to strip the company of assets, major creditors alleged.
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In order to stave off extinction, Sears will decimate its stores until only about 400 remainSears is slated to live on thanks to chairman Eddie Lampert's bid to save the company. To survive, the retailer will have to close numerous stores.
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Sears Chairman Eddie Lampert revises his bid to save the company, report saysAmid an auction of its assets, Sears chairman Eddie Lampert has tweaked his bid for the beleaguered retailer according to Bloomberg
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Eddie Lampert submits revised bid of roughly $5 billion in last-ditch effort to save SearsThis latest attempt comes one day after Lampert's initial $4.4 billion bid to save Sears was rejected by the company.
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