On Brink of Demise, Sears to Reconsider Billionaire Chairman’s Bid

Outside of a Sears department store one day after it closed as part of multiple store closures by Sears Holdings Corp. in the United States in Nanuet, N.Y. on Jan. 7, 2019. Mike Segar/Reuters

Sears Holdings Corp agreed on Jan. 8 to consider a revised takeover bid from billionaire Chairman Edward Lampert, temporarily staving off a liquidation that would have spelled the end of the 126-year-old U.S. department-store chain.

Lampert’s latest attempt to rescue Sears came after his previous $4.4 billion bid fell short, prompting the retailer to make liquidation preparations ahead of a bankruptcy court hearing in New York on Jan. 8.