Donate today and your gift will be matched dollar-for-dollar by the American Public Media Board.
Sears filed for bankruptcy in October, and it looked like the retailer was destined to go the way of the dodo. But on Thursday, Eddie Lampert, former CEO and current chairman of Sears, filed a plan with the Securities and Exchange Commission to save Sears. The bid relies mostly on new loans and debt swaps — forgiving some balances and assuming others. It would keep 500 stores open and retain 50,000 of the nearly 70,000 Sears employees. The deal still would still have to be approved by creditors and the bankruptcy judge.
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
Don’t miss this special