Sears may be days away from bankruptcy

Sears Holdings, the parent company of Sears and Kmart, faces an October 15 deadline to pay $134 million on its debt. CEO and primary shareholder Eddie Lampert told the company’s board that it was crucial it restructure more than $5 billion it owes “without delay,” according to a recent regulatory filing. Also,¬†One of Sears’ major shareholders just dumped a chunk of his stock for pennies on his original investment.

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