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The Wall Street Journal: For Sears, total liquidation is among options being weighed

Sears Holdings Corp. is considering offers from liquidators that would result in the closure of all its stores while Chairman Edward Lampert and Cyrus Capital Partners prepare a bid that would keep the bankrupt retailer in business, according to people familiar with the matter.

Lampert, who believes a slimmed-down Sears SHLDQ, +18.03% can emerge from bankruptcy, and Cyrus are expected to make an offer for roughly 500 of Sears’s best-performing stores, the people said.

The company’s advisers, however, have contacted a number of liquidation firms seeking offers to shut down Sears’s stores and sell off the company’s merchandise in case the takeover offer falls apart, the people said.

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