(Reuters) - Sears Holdings Corp (SHLD.O) is preparing to file for Chapter 11 bankruptcy protection in the coming days following years of declining sales, sources said on Wednesday, casting doubt over the survival of what was once the world’s largest retailer. The bankruptcy filing would end a standoff between Chief Executive Officer Eddie Lampert, the retailer’s biggest shareholder and lender, and a special board committee the company has formed to consider a rescue plan proposed by Lampert that would involve asset sales and a debt restructuring. The committee has been resisting the plan amid concerns that creditors and shareholders would sue over it being too favorable for Lampert. His history of financial engineering at Sears for more than a decade through deals tied to his hedge fund ESL Investments Inc could now be subjected to new scrutiny by Sears’ creditors in bankruptcy court, according to the sources. Both Lampert and the Sears special committee now … [Read more...] about Sears prepares to file for bankruptcy in coming days: sources
Best bankruptcy to file
By Kathleen Pender Published 5:00 am PDT, Saturday, September 15, 2018 Elizabeth Rose, a specialist with Lehman Brothers MarketMakers, working her post on the trading floor of the New York Stock Exchange in 2008. When Lehman Brothers went under, it nearly took the financial system with it — and the crisis provides a reminder of the usefulness of holding onto some cash. less Elizabeth Rose, a specialist with Lehman Brothers MarketMakers, working her post on the trading floor of the New York Stock Exchange in 2008. When Lehman Brothers went under, it nearly took the financial system ... more Photo: David Karp / Associated Press 2008 Photo: David Karp / Associated Press 2008 Image 1 of / 1 Caption Close Image 1 of 1 Elizabeth Rose, a specialist with Lehman Brothers MarketMakers, working her post on the trading … [Read more...] about What are the best places to stash your cash?
Sean Pyles, NerdWallet Published 8:00 am, Wednesday, June 20, 2018 This article was first published on NerdWallet.com. Filing for bankruptcy is often seen as an admission of personal and financial failure. Many people try hard to avoid it, but they end up paying the price for waiting. The longer people wait to file bankruptcy, the more they struggle, according to a 2018 law review study. By the time they declare bankruptcy, their well-being and financial life are damaged, undermining the fresh start the legal tool offers them. Here’s why waiting to file bankruptcy can be so damaging — and when you should consider filing. Why waiting is draining Business Channel Now Playing: Now Playing Report: Elon Musk Launches Investigation Into Tesla 'Sabotage' Veuer Early Theranos Investor Says Elizabeth Holmes 'Innocent Until Proven Guilty' Cheddar TV Gary Vee Is 'All In' on Voice Cheddar TV DC watching World Cup more than any other city in US so … [Read more...] about Why Waiting to File Bankruptcy Can Hurt You
Take heart, knowing that Tesla, Apple and FedEx have also been there -- and survived. Anna Johansson Published 12:30 pm, Thursday, April 19, 2018 Photo: JGI | Jamie Grill | Getty Images Image 1of/1 CaptionClose Image 1 of 1 Photo: JGI | Jamie Grill | Getty Images The Best Ways to Deal with a Financial Emergency As an Entrepreneur 1 / 1 Back to Gallery Financial emergencies have the potential to ruin your business if you aren’t careful. Though the failure rate for startups is often exaggerated, it’s still relatively high: 20 percent of businesses fail within the first year, and about half of U.S. businesses fail within five years, according to data from the Bureau of Labor Statistics. Related: Reinventing Yourself: Life After a Business Failure Most of these failures are the result … [Read more...] about The Best Ways to Deal with a Financial Emergency As an Entrepreneur
Mary Hanbury, provided by Published 9:36 am, Wednesday, April 18, 2018 Business Insider/Mary Hanbury Nordstrom opened its first menswear-only store in New York City on Thursday. Co-president Blake Nordstrom told Business Insider that the company never planned to have a separate store for menswear. The decision was made due to the store's space limitations. However, this store could be a model for others like it in the future. Nordstrom unveiled its glitzy new Manhattan store on Thursday. Recommended Video: Now Playing: According to The New York Post on Monday, shares of Nordstrom are down 7.32% and 8.15% overall this year. The Post says the fall is due to Nordstrom's plans to go private reportedly having a hard time coming together amid struggling sales numbers. The Post goes on to say that potential private deals started to unravel after Toys R Us recently filed for bankruptcy. Despite sliding shares, Nordstrom's off-price store, Nordstrom Rack, … [Read more...] about Nordstrom’s new men’s-only store could be one of its best weapons to defeat the department-store curse — but it may be the only one of its kind