Sears has held discussions with ESL about bidding on roughly 400 financially healthier stores that executives believe could keep the retailer alive, according to court records. One of the sources said ESL is now weighing bidding on as many as 500 stores.
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ESL would be a so-called stalking-horse bidder in this scenario, submitting an initial bid that others could then attempt to top, according to court filings.
The sources said that Sears is pursuing numerous options related to its bankruptcy financing.
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A hearing to finalize Sears’ bankruptcy financing is scheduled for Nov. 15, according to a court filing. A deadline for Sears to obtain a bidder for its stores is currently set for Dec. 15, according to court records.
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