Sears Is Preparing for Bankruptcy as Soon as This Weekend
- Retailer is said be lining up debtor-in-possession financing
- Owner said to focus on preserving value in court restructuring
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The long goodbye for America’s most iconic retailer inches closer to an ending.
Sears Holdings Corp., the struggling U.S. chain owned by hedge fund manager Eddie Lampert, is preparing for a bankruptcy filing as soon as Sunday, according to a person familiar with the plan. The company faces a critical debt maturity next week.