Sears, an American retail staple since 1886, has been struggling in recent years, closing stores, selling off assets and borrowing money. But it wasn’t always this way. Gordon Weil, author of “Sears, Roebuck, USA,” looks back on the history of the retailer. Photo: GettyEdward Lampert, the billionaire who led Sears Holdings Corp. into bankruptcy, is running out of time in his last-ditch effort to keep the debilitated retailer alive. The hedge-fund manager and his advisers spent the weekend revamping his $4.4 billion offer to buy the business out of bankruptcy, according to people familiar with the situation, after Sears’s independent directors said on Friday that they didn’t consider the bid a qualified offer.

Source: Wall Street Journal January 07, 2019 18:33 UTC