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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