Sears’ Bankruptcy

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Sears proceeds with filing Chapter 11 bankruptcy, closing hundreds of Sears and K-Mart locations.

Sears’ Bankruptcy

Late last week I posted that with a looming $134 million debt payment due, it was likely that Sears would file for bankruptcy. Early Monday morning Sears did just that, filing for Chapter 11 bankruptcy, another bricks and mortar store that becomes victim of the retailer apocalypse.

For now, Sears plans to close 142 stores.

Sales for Sears has dropped $53 billion in 2006 to less than $17 billion last year.

Attorney Alex Hernandez

Representing clients in the areas of Chapter 7 Bankruptcy, Family Law/Divorce, and car and motorcycle accidents for 20 years. (904) 712-5565 or (305)-688-LAWS (5297). *Se Habla Español

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