Sears creditors object to Chairman Edward Lampert's successful $5.2 billion bid to keep chain open
Sears Holdings Corp. confirmed Thursday that Chairman Edward Lampert won a bankruptcy auction with a $5.2 billion proposal to keep the retailer in business and preserve 45,000 jobs.
The bid includes "substantially all" of the Hoffman Estates-based retailer's assets, including the remaining Sears and Kmart stores, the company said in a news release. The retailer is expected to have about 425 stores after closures scheduled to take place through March.
The deal, which has
