Sears Skips Payments to Vendors Amid Bankruptcy Concerns

  • Written by Richa Naidu and Jessica DiNapoli

lateSears Holdings Corp (SHLD.O) has started to miss payments to vendors, adding to concerns about its future after sources said the U.S. department store operator was preparing to file for bankruptcy in the coming days.

Three vendors told Reuters that Sears has missed scheduled payments in the last couple of weeks.

It was not immediately clear how widespread the vendor problems were and how they would affect Sears’ supply chain ahead of the holiday shopping season. Sears is also scrambling to secure financing for its expected bankruptcy, and has been unsuccessful so far, sources familiar with the effort said late Wednesday.

Click here for rest of article...