• Sears
  • 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.

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"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."