Eddie Lampert won the bid for Sears in an hours-long bankruptcy auction Monday, but it won’t save any local stores.
The chairman and former CEO’s $5.2 billion bid went through Monday, people close to the matter told Reuters. It could save 425 stores and 45,000 jobs.
But no local stores were included in the auction since they’re already set to close. Stores at the Dayton Mall and Mall at Fairfield Commons closed late last year. Piqua’s store will close in February and Springfield’s will close in March.
Lampert’s bid isn’t a done deal though. It still must be approved by a bankruptcy judge. And there’s a group of creditors objecting to the deal, the people close to the matter said.
It’s expected that a hearing will be held later this week.
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