Sears shareholders reject $4 billion lifeline

Business

It appears that Sears will soon go the way of Toys“R”Us.

Shareholders have rejected an 11th hour, $4 billion lifeline offered by a hedge fund run by former CEO Eddie Lampert.

That was likely the last chance to save the 126-year-old retailer.

Related Content: Sears could be running out of time

A bankruptcy court judge is likely to approve a plan to liquidate the company’s assets at some point on Tuesday.

That would mean the remaining 425 Sears stores will be closing and 50,000 workers will lose their jobs.

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