Sears prepares for possible liquidation as bid to save the chain fails

Sears is getting another reprieve from liquidation after its chairman and largest shareholder revised his bid to save the iconic brand, The Associated Press is reporting.
The Hoffman Estates, Illinois-based retailer says it has accepted Eddie Lampert’s bid through an affiliate of his ESL hedge fund that could keep 425 stores open and save tens of thousands of workers, according to a hearing on Tuesday at the bankruptcy court in White Plains, N.Y. The bid now requires Lampert to deposit $12