According to USA Today, Sears could close soon due to bankruptcy if they don't make a last minute deal or find another way to save it. Sears Holdings will soon say if they will consider a controversial offer from its chairman and large investor in order to keep a smaller version of the company open. Sears stores started to lose their pep and going down hill. Customers started going to online stores like Amazon.
In October, the company filed for chapter 11 bankruptcy protection. They were hoping to use the dept-cutting process to get rid of leases, financial liabilities, and costs that are burdensome. The process has already had hundreds of stores closing.
Nathan Bomey. “Sears Liquidation Threat Looms: Retailer's Fate Hangs in Balance at Bankruptcy Hearing.” USA Today, Gannett Satellite Information Network, 8 Jan. 2019, www.usatoday.com/story/money/2019/01/08/sears-holdings-bankruptcy-liquidation-threat/2511496002/.
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