Sears Becomes The Latest Retail Giant To File For Bankruptcy, Suffering From Massive Debt

ANNE D'INNOCENZIO / AP, Time: Business
Sun, 10/14/2018 - 11:15pm

(NEW YORK) — 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 the shrunken version of itself can be viable or will it be forced to go out of business, closing the final chapter for an iconic name that originated more than a century ago. The company, which started out as a mail order catalog in the 1880s, has been on a slow march toward extinction as it lagged far behind its peers and has incurred massive losses over the years.

Topics: new york payless shoesource toys r us bon-ton stores inc both this craig johnson customer growth partners eddie lampert stanley black decker inc outlet lands end kenmore factset neil saunders nasdaq april ken perkins retail metrics llc it s march aug jennifer roberts dayton ohio my if sales target best buy home depot store mark john germann chicago ridge illinois we re real j.c penney saunders the sears chapter american in store lampert lampert it saunders globaldata retail sears walmart macy s file bankruptcy massive debt company years year losses quarter shopping malls people filing landscape fund don bring percent fiscal billion hedge revenue kmart landlords workers efforts million service stock combined note bought online share forced business catalog continued iconic order started shutter court analyst put merchandise failing cohen restructuring shares total earlier division financial annual smaller money compared shop doors customers locations firm

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Sears Becomes The Latest Retail Giant To File For Bankruptcy, Suffering From Massive Debt

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