(WHDH) — Sears could be closing its doors for good if the company doesn’t accept their only bid to save it.
Parent company Sears Holdings had a deadline this past Friday to accept a $4 billion bid from the hedge fund run by its chairman and former CEO Eddie Lampert.
The bid called for keeping 425 stores open and offered jobs to 50,000 of its remaining employees.
The deadline passed without any word from Sears on the status of the bid.
If Sears doesn’t accept it, it will likely have to ask the court for permission to start shutting down the business.
A hearing is scheduled for Tuesday in bankruptcy court.
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