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Sears Faces Deadline to Save Company from Bankruptcy

Sears is facing its deadline to negotiate a deal to save the iconic company from bankruptcy.

Posted: Jan. 9, 2019 2:50 PM

BUTTE COUNTY, Calif. - Sears is facing its deadline to negotiate a deal to save the iconic company from bankruptcy.

Sears Chairman Eddie Lampert has by 4 p.m. Wednesday to buy the company out of bankruptcy. 

It would cost him a $120 million deposit to save the company.

However, the move would save more than 50,000 jobs and prevent some 400 stores from closing.

Sears filed for bankruptcy protection in October.

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