Sears preparing to file for bankruptcy as early as Friday: sources


NEW YORK (Reuters) – Sears Holdings Corp (SHLD.O) is preparing to file for Chapter 11 bankruptcy protection as early as Friday, sources said on Wednesday.

FILE PHOTO: A Sears department store is shown in El Cajon, California, U.S., August 8, 2017. REUTERS/Mike Blake/File Photo

Negotiations between Sears Chief Executive Eddie Lampert and Sears’ special board committee are at a standstill over the committee’s refusal to approve Lampert’s rescue plan, the sources said.

Reporting By Nick Zieminski in New York; Editing by Chizu Nomiyama

Products You May Like

Articles You May Like

Florida city official charged in store shooting caught on video
Amazon to open Manchester office as it adds 1,000 British jobs
U.S. lottery jackpots climb to $2.2 billion combined after no winners
Soccer: Bolt deal talk dominates first weekend of A-League
China ministry says coal region lacks ‘will’ to fight pollution

Leave a Reply

Your email address will not be published. Required fields are marked *