translated from Spanish: Sears on the verge of filing for bankruptcy; It will close 150 stores

New York.-the Sears commercial Consortium is trying to reach an agreement with lenders on its plan of bankruptcy, which would close 150 stores and would retain other 300, according to the Wall Street Journal.El average, citing sources not identified, it ensures that banks Bank of America, Wells Fargo and Citigroup will provide a $ 500 million emergency financing. As part of the proposed plan of reorganization, Sears would close immediately 150 establishments, 300 more would remain open, and would evaluate the functioning of hundreds more. 

The goal, according to the average specialized CNBC, is the keep the company afloat until Christmas in the hope of finding these months a buyer while Sears is in bankruptcy. 

Photo EFE new details are made known when the Wall Street Journal report Tuesday that Sears, a chain of department stores with 125 years old in the United States, had hired the company M-III to advise it in the process d (e) Declaration of bankruptcy. Moreover, the average specialized CNBC revealed Wednesday that Sears had asked a bank a loan type specific which is requested to obtain sufficient liquidity to keep operating while it is declared bankrupt.

Sears faces the payment of a loan that expires next Monday of $ 134 million, but that has already said that it will probably not face. The source of the WSJ said that it depends on how much short-term funding can get before filing bankruptcy, which will determine if the company can continue and many stores could survive. 

Photo EFE 2010 was the last year of benefits of Sears, which has had to face giants of online sales, and analysts say now that you would need to generate more than 1,000 million dollars to continue operating. Currently with less than 900 establishments, compared with 3,500 I used to have, and about 90,000 employees rather than 100,000. in this note: shop departmental Sears United States

Original source in Spanish