While Chairman Eddie Lampert and his hedge fund ESL Investment managed to buy Sears out of bankruptcy and avoid liquidation—saving about 400 Sears stores—the looming question is what will happen to the hundreds of other shuttered Sears and Kmart locations around the country.
Sears Holdings Corp., which owns Sears and Kmart stores, filed for chapter 11 bankruptcy protection last October after facing years of plummeting sales, while being saddled with a huge debt load. . . . more