Sears lives to see another day – and close more stores

Federal bankruptcy judge Robert Drain granted approval to Eddie Lampert's ESL Investments firm to buy the remaining assets of Sears, which currently operates 425 stores and employs about 45,000 workers. Sears over the last 15 years, for much of the time under Mr. Lampert's leadership, has closed about 3,500 stores and sent about 250,000 workers packing. Although Sears will continue to operate, experts say only about 200 of its locations are viable, and so further closures and layoffs almost inevitable.