A bankruptcy filing would cap a long decline for the iconic 118-year-old department store chain, which has struggled with a nearly $4 billion debt load and competition from e-commerce firms and discount brick-and-mortar retailers even before the pandemic’s onset. The Plano, Texas-based company, which employs nearly 85,000 people, is in discussions with creditors for a so-called debtor-in-possession loan to bolster its finances while it navigates bankruptcy proceedings, the sources said. The timing of a bankruptcy filing could slip depending on how much time it gets from creditors, the sources said. …read more
Source:: Yahoo Finance
