Monday, October 15, 2018

Sears filed for Chapter 11 with plans to close 142 stores — now what?

Retail Dive
As previously expected, Sears Holdings filed for Chapter 11 in the early hours on Monday as a $134 million debt payment came due at a time of stark liquidity restraints.

The event marks a turning point for the 125-year-old department store retailer after having shrunk its physical footprint by 75% over the past decade, sold critical assets and laid off thousands from its corporate and store workforces. . . more