Sears, Once the Largest Retailer in the World, May File for Bankruptcy This Week

Sears, once the world’s largest retailer, is now facing bankruptcy — and may file as soon as this week, according to reports.

The company has recently reached out to several banks to prepare for a potential bankruptcy filing, CNBC reported, citing people familiar with the matter.

The Wall Street Journal reported Tuesday that Sears has hired M-III Partners to prepare for an imminent potential filing.

The company, which hasn’t made a profit since 2010, is facing a $134 million debt...

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