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Sears reportedly eyeing bankruptcy just after reopening scaled-down Oak Brook store

Chicago Tribune
Sears reportedly eyeing bankruptcy just after reopening scaled-down Oak Brook store

A week ago, Sears celebrated the grand reopening of its Oakbrook Center store after a remodeling that cut the store’s size in half, part of a plan to make the retailer a smaller but profitable company. Now, with a $134 million debt payment due Monday, it’s unclear whether Hoffman Estates-based Sears Holdings Corp. will be able to avoid a trip to bankruptcy court. Citing people familiar with the situation, The Wall Street Journal reported Tuesday night that employees of M-III Partners, a New York-based advisory firm, have spent weeks working on a potential bankruptcy filing that could come as soon as this week, though Sears is considering other options and could decide not to seek bankruptcy protection. Earlier Tuesday, Sears, which has lost $11 billion since 2011, announced it has added a restructuring expert to its board.