Sears, Roebuck Co. is one of a many storied names in American retail—once maybe as widespread as Amazon is today—but now a 125-year-old Sears Holdings stands on a margin of bankruptcy. Herein lies a tale of markets and mismanagement.
After aggregation $5.5 billion in debt, Sears is confronting a money break with a $134 million remuneration due Monday. CEO Edward Lampert, whose sidestep account ESL is Sears’s biggest creditor and shareholder, has been gripping a association afloat with short-term borrowing and financial gymnastics….
Article source: https://www.wsj.com/articles/how-sears-lost-its-mojo-1539385808