His original $4.4 billion offer for Sears remaining assets, including 425 stores, would save 50,000 employees. A secondary bid filed in court last week would keep 250 stores open, Lampert’s fallback if the full plan isn’t approved.
»BIZ BEAT: Here’s how the salaries of WSU faculty match up to other Ohio colleges
Even if Sears escapes liquidation, all local stores will be closed by the end of March. They were not included in the final offer.
People close to the matter told Reuters negotiations have extended beyond the Friday deadline and Lampert has until Tuesday to address issues with his bid. Sears has lined up Abacus Advisory Group LLC to liquidate the chains tools, appliances and store fixtures if negotiations are unsuccessful.
»BUSINESS: Millennials struggle to afford homes: ‘The down payment thing is a big factor’
Full liquidation would kill roughly 68,000 jobs nationwide.
The Springfield Sears was the latest area Sears to announces its closure, with plans to liquidate by March. The Piqua store will close in February and both the Mall and Fairfield Commons and Dayton Mall stores closed last year.
• PHOTOS: Dayton-area farmhouse with 41 acres on market for $700K
• 10 changes coming to local shopping venues in 2019
• 5 outbreaks, food-related illnesses that impacted Ohio in 2018
• 10 new flights added at local airports in 2018
• Local experts: Avoid New Year’s resolution scams, read the fine print
About the Author