SEARS Has Until Monday To Pay Up $134 Million

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Sears Holdings (SHLD), the parent company of Sears and Kmart, faces a Monday deadline to pay $134 million in debt.

The most recent filing from Sears showed it had only $193 million in cash on hand as of August 4, the end of its last fiscal quarter. The company also has $269 million available to it from lenders, according to figures it released on September 13.

All signs point to a bankruptcy filing in the next few days. Having so little cash available would make it very difficult for Sears to pay back $134 million in debt due on Monday. Plus, Sears also has to pay its current vendors and employees and stock up inventory before the holidays.

Sears’ stock has fallen more than 50% in the last five trading days to around 35 cents a share.

Read more at CNN.

{Matzav.com}

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