Edward Lampert is running out of time in his last-ditch effort to buy Sears out of bankruptcy
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Sears’ Edward Lampert sweetens his bid to keep stores open, source saysSears is teetering on the edge of liquidation. Some of the company's creditors feel it is worth more to them dead than alive.
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Sears to Stay Open, After Edward Lampert Prevails in Bankruptcy AuctionThe hedge-fund manager succeeded in a last-ditch effort to keep the 126-year-old retailer alive. His $5 billion offer beat a competing bid to liquidate the company.
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Edward Lampert’s $5 Billion Sears Rescue Under Scrutiny as Auction NearsHe added no new cash, asked for more real estate and other goods and beefed up promises to take on bills owed to suppliers, landlords, tax authorities and others.
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Sears workers demand hardship fund as company teeters on edge of closingSears' approximately 68,000 workers are pushing Chairman Edward Lampert to set up a financial fund giving laid-off workers a week of pay for every year of service.
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Auction for Sears Will Go Ahead on January 14: LawyerEdward Lampert’s Sears rescue bid is still alive, as auction for Sears is set to go ahead on Jan. 14, according to a lawyer.
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