Sears Is Hammering Out Deal to Stay Open in Bankruptcy
- Plan envisions smaller chain that could survive beyond holiday
- Lenders are said to consider $300 million to $500 million loan
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Negotiations over the fate of Sears Holdings Corp. are focused on hashing out a plan that would keep some stores open through at least Christmas, according to people with knowledge of the matter.
Discussions aim to restructure the company as a smaller Sears that could stay in business over the long term, according to one of the people, who asked not to be identified discussing confidential matters.