Sears Holdings Corp Chief Executive Officer Eddie Lampert is exploring a bid for some of the cash-strapped U.S. retailer’s businesses and real estate once it files for bankruptcy, an alternative to a traditional court-supervised reorganization, people familiar with the matter said on Oct. 11.
Under the scenario, the 125-year-old department store operator, once the world’s largest retailer, would initially avoid an outright liquidation but would have to navigate the bankruptcy process without some of its key assets. At stake is the future of roughly 90,000 employees and 900 stores, including Kmart, which Sears also operates.
