Sears staves off liquidation, stores to remain open

NEW YORK (AP) — Sears may have won a reprieve in a desperate attempt to stave off its own demise.
Multiple media outlets reported early Wednesday that billionaire Eddie Lampert has won a bankruptcy auction after strengthening his bid in several days of negotiations with creditors. Lampert, Sears’ chairman and largest shareholder, upped his offer to more than $5 billion and added a $120 million cash deposit through an affiliate of his ESL hedge fund.
Lampert steered the company into b