- on the verge of filing for bankruptcy.
Sears is reportedly nearing a deal that would keep stores open into the holiday shopping season.
The retailer is coming close to a deal that would result in some stores shuttering immediately while others would stay open, CNBC reports, citing people familiar with the matter.
"The problem in Sears' case is that it is a poor retailer. Put bluntly, it has failed on every facet of retailing from assortment to service to merchandise to basic shop-keeping standards," Neil Saunders, the managing director of GlobalData Retail, told Business Insider. "That failure has manifested itself in lost customers, lost market share, and a brand that has become tarnished and increasingly irrelevant."