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Decaying stores, remote CEO: How Sears was driven to the edge of bankruptcy [MSN Money]

SEARS HOLDINGS (SHLD)  More Company Research Source: MSN Money
US:NASDAQ Investor Relations: searsholdings.com/invest
PDF © Reuters Sears has survived two world wars and the Great Depression. But after a little more than a decade under the control of a former Goldman Sachs executive turned hedge fund manager, the 125-year-old retailer is imploding. Sales have fallen by half since 2014, and the company is burning through cash, closing hundreds of stores, and slashing jobs in an attempt to stanch the bleeding. Now, just days before a $134 million debt repayment deadline, the company is reportedly preparing for a bankruptcy filing . Read more: Inside Sears' death spiral: How an iconic American brand has been driven to the edge of bankruptcy The man in charge of Sears, Edward S. Lampert, has blamed the company's decline on the media , shifts in consumer spending , and the rise of e-commerce, among other reasons. For years, he has kept the ailing retailer afloat through billions of dollars in loans from his hedge fund, ESL Investments, the selling off of valuable re [Read more]

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