Sears Inching Closer to Bankruptcy

Sears Holdings is readying a bankruptcy filing that could come as soon as this week, the Wall Street Journal reported on Tuesday citing people familiar with the situation. The Journal reported that the company has hired M-III Partners to help with the bankruptcy proceedings. M-III has been working with Sears for more than two years,…

Bruce Berkowitz Liquidates Hedge Fund

Investor Bruce Berkowitz is shutting his hedge fund and distributing its holdings to investors, including a stake in Sears Holdings Corp. Berkowitz’s Fairholme Capital Management reported the fund’s unwinding, without naming it, in a U.S. Securities and Exchange Commission filing on Oct. 13. The fund is Fairholme Partnership, which Berkowitz created roughly five years ago,…