The Fitch ratings service said Sears faces a “significant default risk” within the next 12 to 24 months that will likely result in a Chapter 11 reorganization or flat out liquidation.
“For Edward Lampert’s beleaguered Sears Holdings , the outlook may soon change from bleak to broke, according to Fitch Ratings. Sears has ‘significant default risk’ within the next 12 to 24 months, triggered by years of weak store traffic and high levels of debt, the ratings company said in a report on Wednesday.”
