Clock may be ticking on Northpark Mall Sears store; company liquidation possible

The Sears anchor store at Joplin's Northpark Mall has survived one round of store closures after another, but its time may be running out.

Today is the deadline for companies to submit plans to buy the company with a hearing scheduled in bankruptcy court this afternoon and only one bidder has shown any interest.


Unfortunately, that bidder does not appear to have the financing and if Sears CEO Eddie Lampert fails to come up with it, the company is expected to be liquidated:

Lampert’s offer includes swapping $1.8 billion in debt that Sears owes ESL for equity — known as a credit bid — which the unsecured creditors have also objected to, according to court documents. 

Waiting in the wings are liquidators including Gordon Brothers, Hilco, Tiger Capital and Great American, which will line up buyers for the assets.