April 22, 2019 by MMR
Scot Meyer, Sears
2019, Issue 04-22-2019, Issues, Opinion
For a growing number of brick-and-mortar retailers, the future looks small. Sears is the latest company to embrace the trend. The retailer, which emerged from bankruptcy and a court-supervised auction process in February with about 425 big-box stores, said it plans to open three small Sears Home & Life stores in May. The stores will
October 29, 2018 by MMR
Chapter 11, Sears
2018, Issue 10-29-2018, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of two storied firms that once ranked as the nation’s two largest retailers, filed for Chapter 11 bankruptcy earlier this month. The company’s reorganization plan calls for the closure of 142 additional Sears and Kmart stores, in addition to the previously announced closure of 46
October 29, 2018 by Scot Meyer
Chapter 11, Scot Meyer, Sears
2018, Issue 10-29-2018, Issues, Opinion
The recent Chapter 11 bankruptcy filing by Sears Holdings Corp. offers another reminder, as if anyone in the industry needed one, of how fragile success in retailing can be. Sears in its prime was as disruptive as Amazon.com is today, and, in fact, it pioneered shopping from home (via catalogs and the U.S. Postal Service)
June 11, 2018 by MMR
Kmart, Sears, Sears Holdings
2018, Issue 06-11-2018, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has identified 100 unprofitable stores and will shutter 63 of them in early September. Liquidation sales at 48 Sears outlets and 15 Kmarts will begin as early as June 14. The company announced the closings while reporting its first quarter results, which included a drop of more than
January 29, 2018 by MMR
Kmart, Sears, Sears Holdings
2018, Issue 01-29-2018, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has raised $100 million in new financing and is pursuing an additional $200 million. The company also amended existing notes to increase its borrowing base advance rate for inventory and defer its collateral coverage test and restart it with the second quarter of 2018. Sears Holdings furthermore is
April 17, 2017 by MMR
10-K filing, Kmart, Sears, Sears Holdings Corp., Securities and Exchange Commission
2017, Issue 04-17-2017, Issues
HOFFMAN ESTATES, Ill. — Concerns that the parent of Sears and Kmart is headed toward bankruptcy were rekindled when the company offered in a disclosure that it might not be in operation a year from now. “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,”
March 6, 2017 by MMR
Sears
2017, Issue 03-06-2017, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has announced it will seek to cut costs this year by $1 billion and trim debt and pension obligations by at least $1.5 billion. The company, which reported its sixth straight quarter of slumping sales, will undertake a restructuring, including a combination of the corporate functions of Sears
January 9, 2017 by MMR
Kmart, Sears, Sears Holdings Corp., shuttered
2017, Issue 01-09-2017, Issues
HOFFMAN ESTATES, Ill. — There was more bad news for Sears and Kmart as Sears announced last month another round of stores to be shuttered. Employees were notified that more than 30 Sears and Kmart locations will be closed in the early part of 2017. Florida, with seven Kmart stores slated for closing, and Kentucky,
August 25, 2016 by MMR
Eddie Lampert, Kmart, Sears, Sears Holdings Corp.
Featured Articles, Leading Headlines, Retail News
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. posted another quarterly loss on Thursday and said it would receive another financial lifeline from the hedge fund of its chief executive officer, Eddie Lampert. Lampert’s fund, ESL Investments, offered to provide a $300 million loan to Sears earlier this month to provide the struggling retailer more time
May 23, 2016 by MMR
Kmart, Sears, Sears Holdings chief executive officer Eddie Lampert, Sears Holdings Corp.
2016, Issue 05-23-2016, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of Sears and Kmart stores, plans to shutter 68 Kmart stores and 10 Sears stores this summer in an effort to stem financial losses. Most of the stores will be closed by late July. “The decision to close stores is a difficult but necessary step
April 22, 2016 by MMR
Kmart, Sears, Sears Holdings chief executive officer Eddie Lampert, Sears Holdings Corp.
Featured Articles, Leading Headlines, Retail News
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of Sears and Kmart stores, announced that it will close 78 stores this summer in its ongoing quest to stem financial losses. The company plans to close 68 Kmart stores and 10 Sears stores, with most closures occurring by late July, Sears said on Thursday.