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Sears Gets Court Approval for Store Sales

Victoria Dean
Sears Gets Court Approval for Store Sales

Sears Holdings (SHLD) has received approval from the US Bankruptcy Court to go ahead with the potential sale of its top 400 stores, according to a Wall Street Journal report. The report further added that to sell the stores, Sears will have to find a lead bidder by December 15. After that, if Sears can find more than one bidder, it can conduct an auction in mid-January. ESL Investments, which is spearheaded by ex-Sears CEO Edward Lampert, is likely to make the lead bid, according to the Wall Street Journal.