Sears and Kmart will soon join the graveyard of deceased American retailers!!! They could not come to terms to save themselves in bankruptcy. Without that deal they will continue liquidation now of all its stores.
Once known for its iconic catalogs, appliances and department-store variety, Sears fell into disrepair over the last two decades, as stores steadily lost their pep and customers turned their attention to specialty stores and digital competition like Amazon.
The company filed for Chapter 11 bankruptcy protection in October, hoping to use the debt-cutting process to rid itself of burdensome leases, financial liabilities and costs. That process has already involved hundreds of store closings for a company that once had more than 3,000 locations.
Yesterday in a last ditch effort to stay alive they announced 80 more stores closing. It may just take a miracle to keep the 126 year old legend alive at this point.