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126-year-old firm Sears’ bankruptcy raises old questions about high cost of going broke

WILMINGTON, Del. – Sears has survived the Great Depression and world wars. Whether the 126-year-old retailer stays afloat or goes out of business now hinges in part on paying for the enormous bill piled up by going broke.

The fate of Sears Holdings Corp highlights a harsh reality of US bankruptcy – it requires armies of pricey specialists in a system driven by an outcome, not costs.

[source: http://www.asiaone.com/business/126-year-old-firms-bankruptcy-raises-old-questions-about-high-cost-going-broke]

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