Sears has survived the Great Depression and world wars. Whether the 126-year-old retailer stays afloat or goes out of business now hinges in part on paying for the enormous bill piled up by going broke, Reuters reported. The fate of Sears Holdings Corp. highlights a harsh reality of U.S. bankruptcy — it requires armies of pricey specialists in a system driven by an outcome, not costs. Sears today will consider bids for its assets, including a last-ditch $5 billion proposal by chairman and controlling shareholder Eddie Lampert. To ensure his chances of outbidding proposals to liquidate the chain, Lampert last week agreed to assume more than $600 million in additional liabilities that Sears has incurred since filing for bankruptcy protection last October.
