The Long Goodbye as Sears Inches Closer to an Ending

The company is preparing for bankruptcy due to an upcoming debt payment. They are seeking debtor-in-possession financing, shifting from Lampert's previous out-of-court restructuring proposal. The bankruptcy could lead to store closures and litigation. Lampert has used personal funds to support Sears, which has been selling assets like the Kenmore brand to stay afloat. The potential filing may accelerate store closures.

What is the company preparing for due to an upcoming debt payment?

• A new product launch

• A merger with another company

• A potential bankruptcy filing

• An expansion into new markets

What type of financing is the company seeking in preparation for bankruptcy?

• Venture capital

• Debtor in possession financing

• Equity financing

• Crowdfunding

What is one of the main differences between bankruptcy and orderly restructuring?

• Bankruptcy is always faster

• Restructuring requires more debt

• Restructuring leads to more store openings

• Bankruptcy involves court proceedings

What has Lampert been doing to keep the company afloat?

• Using his own money

• Hiring more employees

• Opening new stores

• Investing in technology

What recent action has the company taken to generate cash?

• Launched a new product line

• Sold the Kenmore brand

• Increased advertising

• Opened new stores