Belk Reportedly Nears A Deal To File For Bankruptcy, Give Lenders An Equity Stake

Sycamore Partners’ Belk is close to a deal where the department store chain would file for bankruptcy protection, and provide its lenders with a stake in the company, people familiar with the matter told Bloomberg. Talks between the parties are still ongoing, the news outlet said, warning that terms hadn’t yet been finalized. Last week, the Wall Street Journal reported Belk was approaching a deal where the retailer would have remained outside of bankruptcy. Read more at CNBC.