Today, Sears faces existential deadline

Eddie Lampert via his ESL Investments hedge fund is the only party that has shown interest in bidding to buy the bankrupt Sears company. ESL reportedly has until end of day today to show that it has the financing and submit its bid of a proposed $4.6 billion. If Mr. Lampert fails to pull off the last-minute maneuver, Sears would possibly be in the hands of creditors looking to liquidate the business to recoup as much of their losses as possible.