Afternoon Coffee: Sears in Fight for Its Life, Postal Service Seeks Rate Hike

Sears appears to be on the brink of bankruptcy, and the troubled retailer is facing pressure from lenders to liquidate, The Wall Street Journal says. CEO Eddie Lampert has proposed a restructuring plan as the company faces a $134 million debt repayment on Monday. The uncertainty has raised concerns that the 125-year-old department store chain may not have enough money to pay suppliers or inventory to stock its shelves.

Postal Service Seeks Rate Hike

The U.S. Postal Service is seeking to raise its rates to deliver packages as well as letters and postcards, Supply Chain Dive reports. The increases would be from 70 cents to $1.05, and if approved, they could go into effect in late January.

Florida Healing after Hurricane

A day after Hurricane Michael hit Florida and killed two people, plans for rebuilding were taking shape, NPR reported. Roads were still impassable, power was out to many and authorities continued to ask people to stay off the roads, NPR said. The storm has been downgraded but is dumping rain on the Carolinas, recently hit by another hurricane.

Markets Still Reeling

And finally, an economic update: The stock market faces another tough day, the New York Times said. Worries about challenges to global growth and uncertainties over U.S.-China trade relations seem to be driving the recent stock sell-off.

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