No liquidation for Sears, chairman wins bankruptcy auction, 400 stores to remain open if judge approves

Sears will not be liquidating.

Company chairman Eddie Lampert won the bankruptcy auction with a bid of $5 billion and will keep 400 stores open if the bankruptcy court approves his plan.

Since the plan will require more than 100 stores to be closed under Lampert's plan and no list has been released on which stores will close, the fate of the anchor store at Joplin's Northpark Mall remains to be decided even if the judge approves the bid.

Lampert says his plan will buy Sears time to find its way back to profitability.