By  on October 12, 2018

The tailspin at Sears Holdings Corp. is getting more dire by the day as talks begin to surface of lenders pushing for a Chapter 7 liquidation.

One executive at a liquidation firm summed up the crisis as follows: “This isn’t just a Chapter 11 bankruptcy with hopes of a reorganization. Whenever there’s talk about a Chapter 7 filing, that is very drastic. It means [the lenders] want to throw out management.”

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