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Sears, the 125-Year-Old Iconic Retailer, Has 24 Hours To Survive (cnbc.com)
An anonymous reader shares a report: Sears, the employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole, people familiar with the situation tell CNBC. Without that bid or another like it, liquidators will break the company up into pieces. But as Lampert stares down a deadline of Dec. 28 to submit his offer, he is quickly running out of time. As of Thursday afternoon, Lampert had neither submitted his bid, nor rounded up financing, the people familiar said. Should Lampert submit a bid, Sears' advisors would have until Jan. 4 to decide whether he is a "qualified bidder." Only then, could ESL take part in an auction against liquidation bids on Jan. 14. It is possible Lampert, Sears' largest investor, secures financing in time to meet the deadline, these people said.
Wow, I didn't know that Sears used Linux; else why would this article be posted here?
All those Craftsman tools I own with a lifetime warranty, appear to have just run out of life in the warranty...
"There is more worth loving than we have strength to love." - Brian Jay Stanley
Someone should put Sears on layaway. Then they can pay for it over time.
Sears is the only place where I live that has an escalator. Now where am I going to go?
your power drill in the ladies lingerie
sounds like a movie title ;)