Sears Faces Another Deadline Today

(Hoffman Estates, IL) -- Sears will decide today if it will accept an offer that could keep it in business.

The Chairman of Sears Holding, Eddie Lampert, has made a multi-billion-dollar bid to keep the struggling retailer open. Lampert's hedge fund submitted a bid for virtually all of Sears' assets, including 425 stores. Sears and its advisers must determine today whether Lampert's bid is "qualified."

The department store chain filed for Chapter Eleven bankruptcy protection in October, and is set to close 40 stores in February.

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Photo:  Scott Olson- Getty Images

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