New Hope for Sears

Things may be looking up for the future of Sears after a pretty bleak 2018… CNBC reports that the company’s chairman met yesterday’s deadline to submit a bid to buy the former retail giant as a whole at the last minute, possibly saving it from being broken up and liquidated.

The proposal would keep 425 stores open and offer employment to 50 thousand employees, which is about where the company stands now. Sears currently employs 68 thousand people and has plans to close 260 of its 700 stores by spring.

It’s still pretty far from being a done deal, but it may be the reprieve the Chicago-based company needs to keep its 125-year history going. Here’s to a better 2019!

Jeanne Sparrow

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