Select Page

Sears Holdings Corp., the struggling U.S. retailer owned by hedge fund manager Eddie Lampert, is laying the groundwork for a bankruptcy filing as soon as this weekend as it faces a critical debt maturity.

Lampert, who for weeks has been pushing a debt restructuring proposal that would avoid a Chapter 11 filing, is now focused on a deal that would preserve stakeholders' value in a court restructuring, according to a person with knowledge of the matter. The company is in talks for financing that would fund operations through bankruptcy, said the person, who asked not to be identified because the discussions are private.

Representatives from Sears didn't immediately return requests for comment.

Continue reading at AdAge.com