Sears Owes Billions of Dollars: Who Will be Left Holding the Bag?

In The Daily Scoop by Lauren Parker, Accessories Magazine

Sears is on the hook to vendors, lenders and even customers who recently bought Kenmore fridges or Craftsman lawn mowers.

The company has close to $7 billion in assets, according to court filings Monday. But it has $11.3 billion in liabilities. More than 100,000 creditors are owed money by Sears.
After Sears filed for bankruptcy protection Monday, those creditors will all get in line to fight to collect pennies in return for their investment dollars.

Read more at CNN Business

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