Sears stock takes major dive as store nears possible bankruptcy

Sears, which was at one point America's largest retailer and its largest employer, appears to be near bankruptcy.

One of Sears' major shareholders just dumped a chunk of his stock for pennies on his original investment.

Sears stock also plunged 30 percent in pre-market trading on Wednesday.

If Sears does file for bankruptcy, it could try to stay in business, using the court process to shed debt and expensive leases.

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