Sears, an anchor of retail life for generations of Americans, filed for bankruptcy on Monday and said it was closing almost 150 stores, the latest marquee victim of the online era. Founded in 1886 as a mail order catalog company, it went on to pioneer the department store industry, selling all things to all people,…
Video PlayerClose BERLIN, Oct. 15 (Xinhua) — Chinese investment, together with a Swiss partner, has helped a 120-year-old insolvent German rail system company back to life, the chief executive officer (CEO) of Molinari Rail Systems GmbH told Xinhua on Monday. “At the end of 2016 before the acquisition, the situation of the railway systems company…
Sears said Monday that it will close 142 more stores, part of its plans to file for Chapter 11 bankruptcy. Massive liquidation sales will start at the stores soon, the company said. Sears has closed hundreds of stores already in an effort to stay afloat, including 46 which are due to close next month. The…
HOFFMAN ESTATES, Ill., Oct. 15, 2018 /PRNewswire/ — Sears Holdings Corporation (“Holdings,” “we,” “our,” or the “Company”) (NASDAQ: SHLD) today announced a series of actions to position the Company to establish a sustainable capital structure, continue streamlining its operating model and grow profitably for the long term. To facilitate these actions, the Company and certain…
HOFFMAN ESTATES, Ill., Oct. 15, 2018 /PRNewswire/ — Sears Holdings Corporation (“Holdings,” “we,” “our,” or the “Company”) (NASDAQ: SHLD) today announced a series of actions to position the Company to establish a sustainable capital structure, continue streamlining its operating model and grow profitably for the long term. To facilitate these actions, the Company and certain…
Sears, the one-time titan of American retail, is expected to file for bankruptcy early Monday morning US time ahead of a $US134 million ($190 million) debt payment. For years, Sears has contended with the threat that it would become the latest big-name retailer to fall to online competition and crushing debt. The icon once known…