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Sears prepares for bankruptcy (update: files for Chapter 11)


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#1 Brad  OFFLINE  

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Posted Oct 10, 2018 - 5:10 am

https://www.cnbc.com...bankruptcy.html



#2 magickallight  OFFLINE  

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Posted Oct 10, 2018 - 5:24 am

Well ... I think we all saw it coming. :(



#3 riven3d  OFFLINE  

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Posted Oct 10, 2018 - 5:58 am

long time coming, no big surprise there



#4 Brad  OFFLINE  

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Posted Oct 10, 2018 - 6:05 am

The timing of this (if it happens) means that we'll still end up posting a Sears BF ad because it was likely finalized weeks ago but the stores likely won't honor the sale as they'll be doing liquidation sales most likely.



#5 Bopeep  OFFLINE  

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Posted Oct 10, 2018 - 11:13 am

Our last Sears just closed its doors (or, if not, they are in the last few days).  I went in when everything was marked way down already, and checked out with over $50 total.  The cashier handed me my receipt, and then handed me a gift card and said "Here! You earned a $10 gift card!" with a big smile on her face.  I laughed, and said a $10 gift card to a store that's closing???  



#6 stewarta4  OFFLINE  

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Posted Oct 10, 2018 - 2:46 pm

Not surprising...glad I was able to get a good deal on new Kenmore appliances from them earlier in the year. 


` :holiday07  :holiday04  :holiday07


#7 Kanyon71  OFFLINE  

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Posted Oct 10, 2018 - 6:08 pm

Surprised it hasn't happened sooner.



#8 Brad  OFFLINE  

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Posted Oct 15, 2018 - 3:37 am

http://searsholdings...eleases/pr/2116

So they found enough $ to be able to file for chapter 11 instead of chapter 7. So stores and the web sites stay open for now although they are going to close even more stores by the end of the year.

Just postponing the inevitable in my opinion...

#9 Kanyon71  OFFLINE  

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Posted Oct 15, 2018 - 5:40 am

Wish someone with some business sense would buy them and bring them back. They need updating and the current company is not the one to do it.



#10 mcwalker  OFFLINE  

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Posted Oct 15, 2018 - 8:15 am

The following article has a list of the Kmart and Sears stores that are slated to close taken from the filing documents: https://www.usatoday...res/1645971002/






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