Why Neither Macy's Nor J.C.Penney Will Be the Next SearsJanuary 26, 2018 – Media Mention
If the demise of Sears Holdings Corp. (SHLD - Get Report) is a great American tragedy, then, at a glance, it may seem that the legendary retailer has got at least two understudies waiting in the wings — Macy's Inc. (M - Get Report) and J. C. Penney Company Inc. (JCP - Get Report) .
Bankruptcy expert Brian Davidoff told TheStreet that 2018 is likely the year that Sears will file for Chapter 11. "Sears is at a break point. If there is a [bankruptcy] filing, that filing is likely to occur this year," said Davidoff, head of Greenberg Glusker's Bankruptcy and Financial Restructuring Group, who oversaw the bankruptcy of Bachrach Men's Store in 2017.
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