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 @ā979thebeatā
Sign Up For Our Newsletter!
The Latest:
- Tester testing
- New Couple Alert? Cardi B & Stefon Diggs Cozy Up Courtside
- Lewis Hamiltonās Met Gala Power Move Was All About Black Women
- Kim Kardashian Testifies in Paris Robbery Trial
- Cassie Testifies at Diddy Trial: āThe Freak Offs Became a Jobā
- Tory Lanez Stabbing: Internet Question Recovery Timeline After Attack
- Trumpās Brazen Takeover Of The Library Of Congress Is Another Direct Threat To Democracy
- Cardi B & Stefon Diggs Go Public Amid Romance and Baby Rumors
- āFound,ā āThe Irrational,ā āSuits LA,ā & More Canceled At NBC
- Chris Gotti Says Ashanti Should Give Irv Gotti More Credit For Her Success
- Netflix Stay Taxinā: Prices Going Up Again Despite Record-Breaking Success
- Dallas Rapper Zillionaire Doe Signs to Yo Gotti CMG Record Label
- āLove Is Blindāsā Ashley Adionser And Tyler Francis Call It Quits ā See Why Fans Arenāt Really Surprised
- Keke Palmer Pressures SZA to Spill the Tea on Drakeās Kissing Skills! (WATCH)