Sears Inches Toward Potential Bankruptcy

Sears (Hoffman Estates, Ill.) appears to be making steps toward filing bankruptcy, which could come to pass as soon as this weekend.

According to Crain’s Chicago Business, the company has added restructuring expert Alan Carr to its board and has also reportedly hired boutique advisory firm M-III Partners (New York) to work on a potential filing.

While the company could still avoid filing bankruptcy, it has a large $134 million debt loan payment that is due next week, which seems to be precipitating this new change in direction, according to CNBC.