Sears chief proposes mass real estate selloff to avoid bankruptcy

The chief executive of Sears Holdings is making a last ditch effort to save the company from bankruptcy, by proposing the company’s creditors restructure over $1 billion in debt and sell off more real estate. Edward Lampert, who also serves as Sears’ chairman and is the company’s largest creditor and controlling shareholder, has asked the board to sell $1.5 billion of property and divest other assets, according to the Wall Street Journal. The move has […]

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