Five Billion Dollar Bid Could Save Sears & Kmart


(New York, NY) -- Eddie Lampert is serious about saving Sears from complete liquidation.

Reuters reports the chairman of the company submitted a revised bid of about five-billion dollars yesterday along with the required 120-million-dollar deposit to keep the 128-year-old company alive. In the bid Lampert agreed to assume tax and vendor bills that Sears has incurred since filing for bankruptcy in October.

A decision will be made on Monday whether to accept Lampert's bid or to liquidate the company.  Lampert's first bid to save the company was for four-point-four billion dollars and it was rejected.  In the new bid Lampert said they will save up to 50-thousand jobs.


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