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Sears skips payments to vendors amid bankruptcy concerns [Reuters]

SEARS HOLDINGS (SHLD)  More Company Research Source: Reuters
US:NASDAQ Investor Relations: searsholdings.com/invest
PDF Sears skips payments to vendors amid bankruptcy concerns | Reuters 5 Min Read (Reuters) - Sears Holdings Corp ( SHLD.O ) has started to miss payments to vendors, adding to concerns about its future after sources said on Wednesday that the U.S. department store operator was preparing to file for bankruptcy in the coming days. Three vendors told Reuters that Sears had missed scheduled payments to them in the last couple of weeks. It was not immediately clear how widespread the issue was and how it would affect Sears’ supply chain ahead of the holiday shopping season. Vendors could stop shipments if they are worried Sears cannot pay, potentially sending the retailer into freefall. “We went into business with them with our eyes open and knew this day would come one day,” said Arnold Kamler, CEO of Parsippany, New Jersey bike maker Kent International Inc. Kamler said he has withheld a shipment to Sears after it missed a regular payment last week for the first time. Sears did not respond [Read more]

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