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Sears Bankruptcy Filing Is Inevitable

247wallst.com
Sears Bankruptcy Filing Is Inevitable

The imminent bankruptcy of Sears Holdings Corp. (NASDAQ: SHLD) can only be a surprise to someone who has been living under a rock for the past few years. Thousands of Sears and Kmart stores have been closed and the company has sold off all of its most valuable brands. The only thing left is debt, and the only outfit that wants that is Sears CEO Edward S. Lampert’s hedge fund, ESL Investments. ESL has lent Sears cash for some time now and is one of the company’s major lenders, as well as its biggest shareholder after Lampert himself. The immediate problem: Sears has $134 million of debt maturing on Monday and no way of paying it. Earlier this week, Sears added restructuring veteran Alan Carr to