Sears looking for buyer


FILE- In this March 23, 2017, file photo a small weed grows in the parking lot outside a Sears retail store in north Dallas. Sears’ Chapter 11 bankruptcy filing on Monday, Oct. 15, 2018, will have rippling effects on everything from its workers to suppliers. The restructuring plan, which calls for another 142 store closures […]

The Sears company needs a buyer by the end of today to survive.

The bankrupt company has about 500 of its stores and the Kenmore Appliance brand up for grabs.

If someone buys those, Sears and Kmart will remain open for business and thousands of jobs could be saved.

As of right now, Sears only has one public bidder.

A hedge fund controlled by Sears Chairman Eddie Lampert is offering $4.6 billion for those assets.

Lampert is the company’s largest creditor and served as CEO until its bankruptcy.

But he still has to make his bid official.

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