About this Deal
|Sears, the 125-year-old icon, has 24 hours to survive. |
Back in October, the department store filed for bankruptcy and now its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert.
He is trying to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole and without that bid or another like it, liquidators will break the company up into pieces.
But the deadline is on 4pm today! Hopefully Sears can secure funding, as the company has over 68,000 employees.
Read the full article at CNBC.