Retail Dive
As previously expected, Sears Holdings filed for Chapter 11 in the early hours on Monday as a $134 million debt payment came due at a time of stark liquidity restraints.
The event marks a turning point for the 125-year-old department store retailer after having shrunk its physical footprint by 75% over the past decade, sold critical assets and laid off thousands from its corporate and store workforces. . . more
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