Sears said to hire advisers as it prepares to file for bankruptcy
The retail landscape was hit hard the last few years with the emergence of Amazon. Since the shift to online became so noticable, physical stores saw a marked decline in traffic.
No company epitomizes this decline more than Sears. The long time retailer, which also acquired K-Mart a number of years ago, has teetered on the brink of bankruptcy for years.
The end could be near. Sears hired a firm to prepare the filing which could come as soon as this week. There is a $134 million debt payment due on Monday.
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