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With bankruptcy looming, what you need to know about the Phoenix-area Sears stores

Brandon Brown
American City Business Journals
With bankruptcy looming, what you need to know about the Phoenix-area Sears stores

Sears Holding Corp. (NASDAQ: SHLD) is preparing a bankruptcy filing, according to multiple media reports, and depending on how that goes it could leave multiple big-box retail stores vacant around the Phoenix area. The newspaper also reported some of Sears’ largest lenders are asking the company to liquidate rather than reorganize. Edward Lampert, Sears’ CEO, largest shareholder and largest creditor, is reportedly also looking for an out-of-court reorganization that would keep the company running but would mean closing a number of stores, selling off some brands and getting rid of more than $1 billion worth of real estate.  No matter what path Sears management decides to take, there is a chance some, if not all, of the five remaining Sears stores around the Valley could shutter.