Sears will live to see another day. Reuters News reported current CEO Eddie Lampert's $5.2 billion bid for the company was accepted. The bid was an increase from an earlier $5 billion. The bid was technically made under ESL, a hedge fund owned by Lampert. The takeover will save an estimated 45,000 jobs and keep 425 Sears and K-Mart stores open across the country. A bankruptcy judge must still approve the deal.
A search of the Sears website revealed just seven stores still operating in all of Alabama. This consists of Sears Hometown stores as well as an outlet near Birmingham. The company closed locations in Huntsville, Decatur, and Florence over the past few years. The last remaining K-Mart store in Alabama was located in Albertville until it shut down last year.
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