By: Economic & Finance Report
Sears looks as if it will be staring down the eyes of bankruptcy. They have hired M-III Partners to assist in the bankruptcy filings; that is expected to be filed later this week. The end of the second week of October.
Sears has been losing money with their brick and mortar businesses in recent years, especially as e-commerce businesses such as Amazon have been profiting from online sales for a long time.
As E-commerce ramps up sales as the holiday season approaches, Sears has needed to reevaluate their business models, while at the same time waving the white flag. -SB