Home > Sears Set To Crash To Record Low Following Bankruptcy Report

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Sears Set To Crash To Record Low Following Bankruptcy Report

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Business INsider reports that Sears is set to open at a record low Wednesday, down more than 29% at $0.41 a share. The drop comes after a report said it could file for bankruptcy protection as soon as this week. The Wall Street Journal reported on Tuesday, the retailer has hired M-III Partners to prepare a bankruptcy filing. The company has run out of cash and faces a debt payment deadline. citing sources familiar with the matter. M-III Partners is said to have been working on the potential bankruptcy filing for a few weeks. The company is considering other options as well. The WSJ says the court filing could come as soon as this week as the cash-strapped company has $134 million in debt due on Monday.

Added on the 10/10/2018 08:43:01 - Copyright : Wochit

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