Sears may file for bankruptcy as retail woes continue, reports say

The retailer faces a daunting $134 million debt payment due Monday that looms increasingly large since the company has so far failed to work out a deal with CEO and largest shareholder Eddie Lampert to restructure its debts and sell more assets.

With heavy losses mounting, it may not have enough to make that payment on time.

Now, the company is working with advisers to prepare a potential bankruptcy filing as soon as this week, according to the Wall Street Journal and CNBC.

Source: Sears may file for bankruptcy as retail woes continue, reports say

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