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Big Lenders Make Push to Liquidate Sears

Some of Sears Holdings Corp.’s biggest lenders were pushing for it to liquidate rather than use bankruptcy protection to try to save an American legend whose stores and catalogs dominated retailing for generations, according to people familiar with the discussions.

Sears is in talks with a group of banks, including Bank of America Corp. and Wells Fargo & Co., over emergency financing as the company prepares for a bankruptcy filing, the people said.

Source : WSJ

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