Sears Files for Bankruptcy
October 15th, 2018Via: CBS:
Sears has filed for Chapter 11 bankruptcy protection, buckling under its massive debt load and staggering losses. Sears once dominated the American retail landscape. But the big question is whether its shrunken version can be viable or will be forced to go out of business, ending the final chapter for an iconic name that originated more than a century ago.
Sears says it will “close 142 unprofitable stores near the end of the year. Liquidation sales at these stores are expected to begin shortly. This is in addition to the previously announced closure of 46 unprofitable stores that is expected to be completed by November 2018.”
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