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January 9, 2019

Sears gets another reprieve

NEW YORK (AP) — Sears received another possible lifeline Tuesday when the company's chairman and largest shareholder promised to line up the necessary financing to keep the struggling department store chain afloat.

The reprieve came after what Sears lawyers described to a bankruptcy judge in New York as “round-the-clock” negotiations following the company board's initial rejection of Eddie Lampert's proposal, which sought to preserve 425 stores and 50,000 workers.


 
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