Sears Holdings Corp. is preparing to potentially wind down the iconic retailer after Chairman Edward Lampert's bid to buy several hundred stores out of bankruptcy fell short of bankers' qualifications, people with knowledge of the matter said.
The retailer started laying the groundwork for a liquidation after meetings Friday in which its advisers weighed the merits of a $4.4 billion bid by Lampert's hedge fund to buy Sears as a going concern, said the people, who asked not to be identified because the discussions are private. . . . more