10.10.2018 18:33:28
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Sears Posting Steep Loss On Reports Of Possible Bankruptcy Filing
(RTTNews) - Shares of Sears Holdings Corp. (SHLD) have shown a substantial move to the downside during trading on Wednesday, with the department store chain plunging by 31.6 percent. With the drop, Sears has fallen to a record intraday low.
The sell-off by Sears comes after a report from the Wall Street Journal said the company has hired advisers to prepare for a possible bankruptcy filing that could come as soon as this week.
Sears faces significant near-term liquidity constraints, including a $134 million debt payment due next Monday.
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