DEVELOPING: Sears plans to close all stores after 126 years in business
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Sears has not accepted Chairman Eddie Lampert’s bid to save the company. According to CNBC, Sears plans to announce its liquidation plans this morning. Lampert had attempted to save the company with a $4.4 billion bid and buying it out of bankruptcy. Sears’ advisors said that would not be enough to keep the stores in business.