125-year-old Sears to file for bankruptcy: report

Sears, which was once the largest retailer in the world, is now reportedly facing bankruptcy. The company, which hasn’t turned a profit since 2010 and is $134 million in debt, recently approached several banks to prepare for bankruptcy filing, CNBC reported Wednesday. Shares plunged almost 20 percent on the news, and are set to open at a record low.
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