Sears Files For Bankruptcy
Source: Mats Silvan / Getty
Sears has filled for bankruptcy. The company plans to close up to 150 stores with hopes that it will help the company make it through the holiday season. Sears has entered voluntary Chapter 11 bankruptcy proceedings after a decade of struggling.
The company was at its peak in the 1990s until Target, Walmart, and other companies sprouted causing tough competition. The company has been slowing losing sales since 2013 losing roughly around $5.8 billion after closing 1,000 stores. Unfortunately, more layoffs and store closes are more than likely going to happen and continue.
via HipHopWired
Follow The Beat On Twitter: Follow @’979thebeat’
Sign Up For Our Newsletter!
The Latest:
- Sara Rivers’ Claims Against Diddy Mostly Axed By Judge
- Pharrell Williams Launches VIRGINIA, New Platform And Brand
- Icy Girl ‘Goaaaaaals!’ Saweetie Spotted Saweetly Smooching Soccer Star Jadon Sancho After He Tattoos Her Middle Name
- Epstein Accomplice Ghislaine Maxwell’s Transfer, Democrats Want Answers
- This The New PBS?! Viral Kids Cartoon Teaches Slavery As ‘No Big Deal’, Company’s Co-Founder Wants To Indoctrinate Children With Right-Wing Ideology
- Nearly 70 Of André Leon Talley’s Iconic Looks Are Now On Display – Here’s How To See Them
- Tracee Ellis Ross Just Made Oversized Transitional Dressing Look Flawless In NYC
- Wait, What?! Buffalo Supermarket Shooter Wants Federal Charges Tossed Citing ‘Too White’ Grand Jury
- Federal Judge Rules Against DOE’s Anti-DEI Guidance In Universities
- ‘Social Dating Apps Hate Black Women’: Michaela Coel Talks Dating, Life, & New Projects With British Vogue
