Sears may be facing imminent death as deadline passes to rescue the company from liquidation

Reuters

• Sears, once America's most iconic retailer, is on the verge of liquidating.
• CEO Eddie Lampert blamed the company's decline on the media, shifts in consumer spending, and the rise of e-commerce, among other reasons.
• But analysts and critics say the company's demise is the result of years of under investment in stores.
• Some stores have shown signs of decay, such as crumbling walls, cracked floors, and collapsing ceilings. Sears employees have hung bed sheets and shower curtains to hide empty store space.

Sears, once the largest retailer in the world, may be on the verge of liquidating.

ESL Investments, the hedge fund run by Sears' CEO Eddie Lampert, had a deadline of 4 p.m. Friday to submit its bid to bankruptcy court to purchase many of the company's remaining assets, including about 500 stores.

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from Business Insider https://read.bi/2EQRoIe