New York (CNN Business) No matter what happens in bankruptcy court, Sears faces a grim future. So why is chairman Eddie Lampert fighting so hard to keep it alive?

Lampert insists he bid $5.2 billion for the company because he believes a reborn Sears will be well positioned as a competitive, profitable retailer once more.

But there's probably more to it, experts say.

Lampert, who created the modern Sears with in 2005 when he merged it with Kmart, is not ready to admit defeat.

"I think there is definitely an element of ego and pride in this thing," said Neil Saunders, managing director of GlobalData Retail. "For him not to do anything at this stage would be a real loss of face."

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