Deals
Lampert Seeks an Extension to Finance His Sears Bid
- The retail chain faces a tight schedule to avoid liquidation
- Iconic retailer’s fate and 50,000 jobs hang in the balance
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Eddie Lampert is asking for more time to round up financing for his bid to keep Sears Holdings Corp. alive, according to people with knowledge of the matter.
Lampert, chairman of the bankrupt chain, is counting on getting some financing from lenders including Bank of America Corp. and is still seeking additional funds, said the people, who asked not to be identified because the process isn’t public.