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 significance of the debt payment due on Monday?

What preparations is the company making in anticipation of a potential bankruptcy?

How does the potential bankruptcy differ from the previous restructuring proposal?

What impact could the bankruptcy have on the company's store operations?

What actions has Lampert taken to keep Sears afloat in recent years?