Sears said to hire advisers as it prepares to file for bankruptcy

in #sears5 years ago

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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