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Sears files for bankruptcy

3 monthes ago   |   By

US department store giant Sears has filed for chapter 11 bankruptcy protection, after struggling with debts and losses in the American retail market.
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National Stores to close 184 Fallas and Factory 2-U shops

National Stores to close 184 Fallas and Factory 2-U shops

3 monthes ago   |   By

National Stores announced store closing sales at 184 Fallas and Factory 2-U stores across 12 states in the US and Puerto Rico, as part of its
Chapter 11 Bankruptcy filing. The store closing process is being conducted by a joint venture comprising Hilco Merchant Resources, Gordon Brothers and
SB360 Capital Partners. Every single product in these 184 stores has been marked down, with reductions of 30 percent in products such as school uniforms, apparel, shoes and backpacks. The joint venture released the full list of stores to be closed in a statement, but their exact closing date was not...
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Sears Holdings Corp. Files Chapter 11 Bankruptcy Petition

3 monthes ago   |   By

After 125 years in operation, Sears is now operating under bankruptcy court protection.
Sears Holdings Corp., the parent company of the Sears and Kmart nameplates, on Monday filed a voluntary Chapter 11 petition seeking bankruptcy court protection in Manhattan.
For now, Sears has $300 million in debtor-in-possession financing from its senior secured asset-based revolving lenders. The company said it is also in negotiations with ESL Investments Inc., a hedge fund, for an additional $300 million junior DIP facility. Sears will close 142 unprofitable stores near the end of the year.
Edward S...
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