Sears has filed for bankruptcy and as a result, many stores will be shut down. Sadly, the end seems near for the American retailer.
Sears Holdings has prepared a list of around 142 unprofitable stores as part of the Chapter 11 of bankruptcy, apart from 46 stores closing announcement in the month of August. The liquidation sales will begin in two weeks as per the court filing.
Eddie Lampert, the chairman of Sears, said,
As we look toward the holiday season, Sears and Kmart stores remain open for business and our dedicated associates look forward to serving our members and customers.
The company has around 687 stores including the Kmart locations. If the company doesn’t reach to a viable restructuring agreement, then more stores can be shut down and there’s also a possibility that all of them may be closed.
In order to stabilize its deteriorating sales and finances, several stores have already been closed. In the recent round, plans have been made to close down 33 Sears locations and 13 Kmart stores in the month of November.
There is a huge list of stores that will be shut. There are even chances that we may not see the huge retail giant anymore. The loss that the company has been suffering from is a no secret now.
Various Sears stores have launched liquidation sales around the entire country. These sales will end by December 2018 in almost 46 stores. The sales will begin at the remaining 142 stores shortly. However, the customers cannot be promised amazing deals. In general, the shoppers can expect some decent discounts at the stores that will be shortly closed. But we are sure that everything is marked down.
So, if you are looking forward to these sales, then go and grab all the stuff before it’s too late.
Source: usatoday, time.com
