Big Sales at Sears, Bad News for Workers

Good news for the customers, bad news for their employees. 

There could be some amazing deals at your local Sears store soon. The bankrupt retail giant missed a Friday deadline asking it to report if the offer by former CEO Eddie Lampert to fund a four-point-four billion dollar deal to keep 425 stores open would be considered. 

Sears has asked a judge to move forward with the liquidation plans.

Lampert, meanwhile, is going to petition to give him more time to get a higher bid together in an effort to save the retailer.

A bankruptcy auction is currently scheduled for January 14th. 68-thousand jobs will be lost if Sears closes its doors.

Source: The Street

Pic credit: Scott Olsen

Sears Closing
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