Monday, October 15, 2018

Sears Files for Bankruptcy That’s Been Years in the Making; Lampert Steps Down as CEO

NREI
It’s official: Sears Holdings Corp. has declared bankruptcy and plans to close 142 unprofitable stores, in addition to the store closings announced earlier this year.

CEO Eddie Lampert has also stepped down from his post.

Sears filed for chapter 11 bankruptcy protection Monday in the U.S. Bankruptcy Court of the Southern District of New York.. . . more