October 17, 2018

October 17, 2018

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October 16, 2018

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October 15, 2018

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Sears May Be Preparing to File for Bankruptcy This Week

Multiple new sources are reporting that the long anticipated bankruptcy filing for Sears Holding may happen this week.

A $134 million dollar debt payment due this coming Monday may force the company into bankruptcy. On Tuesday Sears announced that The CEO of Drivetrain, an advisory firm for distressed companies had joined its Board. Sears Holding operates approximately 500 Sears and 360 Kmart stores.

While in the past Sears’ CEO Eddie Lampert has provided funding from his own hedge fund, ESL Investments, to keep the company afloat, CNBC reports that Sears has contacted financiers to secured potential financing to keep it afloat in bankruptcy.

If you have a Sears lease or have outstanding Sears receivables, it is important to know your rights.

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About this Author

Joseph H. Lemkin, Stark Law Firm, Bankruptcy Attorney, Commercial Litigation lawyer,
Shareholder

Joseph H. Lemkin is a Shareholder and member of Stark & Stark’s Bankruptcy & Creditor’s Rights Group. Mr. Lemkin’s practice primarily focuses on the areas of bankruptcy law, commercial litigation, business reorganization and related matters, with a particular emphasis on creditors’ rights. Mr. Lemkin has extensive experience representing mortgage lenders in both consumer and commercial bankruptcy proceedings, as well as secured creditors, creditors’ committees, debtors and trade creditors and bankruptcy trustees. The scope of his representation has included...

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