Sears Could File for Bankruptcy As Soon As This Weekend

Sears Holdings Corp., the struggling U.S. retailer owned by hedge fund manager Eddie Lampert, is laying the groundwork for a bankruptcy filing as soon as this weekend as it faces a critical debt maturity.

Lampert, who for weeks has been pushing a debt restructuring proposal that would avoid a Chapter 11 filing, is now focused on a deal that would preserve stakeholders’ value in a court restructuring, according to a person with knowledge of the matter.