Sears' chairman, Eddie Lampert, has won court approval to buy Sears out of bankruptcy and keep the 126-year-old retailer from liquidating.
Sears' deal with Lampert will keep about 400 stores open and retain 45,000 jobs.
"While there is no doubt that a shrunken Sears will be more viable than the larger entity which struggled to turn a profit, we remain extremely pessimistic about the chain's future," said Neil Saunders, the managing director of GlobalData Retail.
A bankruptcy judge on...
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