Sears narrowly avoided liquidation Friday with a $4.6 billion bid by Chairman Eddie Lampert just before an end-of-day deadline. The bid still needs approval from Sears Holdings’ board in January 2019. The offer is for just 435 Sears stores and was issued by an affiliate of Lampert’s ESL Investments, Transform Holdco. Sears Holdings filed for bankruptcy on Oct. 15. The deal could still be rejected by the board and even if accepted, Sears limps into the New Year on shaky ground.

Source: Forbes December 29, 2018 23:48 UTC