Sears, the long-troubled US department store chain, is set to stagger on.

Billionaire Eddie Lampert, a hedge fund financier who is chairman of Sears and its former chief executive, has won a bankruptcy court auction to purchase the company for $5.2bn (£4bn).

Assuming it is approved, his plan will keep more than 400 stores open and preserve up to 45,000 jobs.

But doubts remain about the prospect of a turnaround for the firm, which has seen years

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