NEW YORK CITY–Sears Holdings filed for Chapter 11 protection early Monday in the US Bankruptcy Court in White Plains, NY. Its plan is to keep certain stores open as it reorganizes operations and negotiates with creditors.
As part of its reorganization, the company plans to shift to a smaller store platform. It plans to close 142 stores by the end of the year and will follow through on its previously-announced intention of closing another 46 locations by November.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
