Sears Holdings Corp (SHLD.OQ) Key Developments

<!– Tempur Sealy Statement On Sears Bankruptcy –> <!– –> 5:41pm EDT  Oct 15 (Reuters) – Tempur Sealy International Inc ::TEMPUR SEALY STATEMENT ON SEARS BANKRUPTCY.TEMPUR SEALY – SEARS REPRESENTED LESS THAN 5% OF CO’S GLOBAL NET SALES & LESS THAN $5 MILLION OF ACCOUNTS RECEIVABLE EXPOSURE AS OF SEPT 30, 2018.TEMPUR SEALY – IS DISCLOSING ITS CREDIT EXPOSURE AND SALES VOLUME RELATED TO SEARS.  Source link

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Sears in Modesto, Kmart in Ceres will close as parent company files for bankruptcy

The Sears store at the Vintage Faire Mall in Modesto and the Kmart in Ceres will close as part of Monday’s bankruptcy filing by their parent company. They are among 142 unprofitable stores that Sears Holdings Corp. will shutter “near the end of the year,” on top of 46 announced earlier, the company said. Hundreds of stores will remain open as the chains try to survive in a changing retail world. Sears in the Merced Mall also will close. Other…

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Watertown Daily Times | Sears files for bankruptcy after years of turmoil; Watertown store survives

Sears, the one-time titan of American retail, filed for bankruptcy ahead of a $134 million debt payment due Monday and announced that it will close 142 stores. The outlet the company owns in the Salmon Run Mall in Watertown, however, has survived the chopping block, according to Business Insider. The retailer plans to shutter four of its titular stores in New York along with five New York Kmart locations. According to Business Insider, the list of closures includes Sears stores…

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Concord Sears to remain open despite bankruptcy filing

The Concord location for former retail giant Sears continues to survive the company’s ongoing decline. Sears Holdings, which operates both Sears and Kmart stores, will close 142 unprofitable stores near the end of the year, with liquidation sales expected to begin shortly. That’s in addition to the closure of 46 unprofitable stores that had already been announced. New Hampshire has seen the loss of its Manchester and Salem stores, and a Portsmouth location became the most recent sacrifice as the company…

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Trump rips Sears leadership over bankruptcy: ‘It’s a shame’

Once an American icon — now a disgrace. President Trump on Monday slammed Sears leadership over its demise. “Sears has been dying for many years,” Trump said to reporters outside of the White House. “It’s been obviously improperly run for many years and it’s a shame.” Sears filed for Chapter 11 bankruptcy early Monday morning following years of losses and mounting debt. Ticker Security Last Change %Chg SHLD SEARS HOLDINGS CORP. 0.31 -0.10 -23.83% The company said it will close…

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Trump rips Sears leadership over bankruptcy: ‘It’s a shame’

Once an American icon — now a disgrace. President Trump on Monday slammed Sears leadership over its demise. “Sears has been dying for many years,” Trump said to reporters outside of the White House. “It’s been obviously improperly run for many years and it’s a shame.” Sears filed for Chapter 11 bankruptcy early Monday morning following years of losses and mounting debt. Ticker Security Last Change %Chg SHLD SEARS HOLDINGS CORP. 0.31 -0.10 -23.83% The company said it will close…

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Helltown Brewing to acquire Rivertowne Brewing in bankruptcy

PITTSBURGH — Six months after Rivertowne Brewing filed for Chapter 11 bankruptcy protection, another local brewery is acquiring the business. Helltown Brewing, based in Mount Pleasant, Westmoreland County, said it will use the scope and scale of Rivertowne’s operations to bring more of Helltown’s beers to the customer base. Rivertowne consists of a brewery in Export and restaurants in Verona, North Huntingdon, Monroeville and Pittsburgh’s North Shore. At the time of the bankruptcy filing in May, a Rivertowne spokesman said…

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Sears, the once-mighty US retailer, files for bankruptcy

Sears has been drowning in debt exceeding $5 billion and reportedly could make a $134 million payment due on Monday Sears, an anchor of retail life for generations of Americans, filed for bankruptcy on Monday and said it was closing almost 150 stores, the latest marquee victim of the online era. Founded in 1886 as a mail order catalog company, it went on to pioneer the department store industry, selling all things to all people, and by the mid-20th century…

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Sears, once a retail titan, files for bankruptcy protection, mired in debt and deserted by shoppers

Sears Holdings Corp., the 125-year-old retailer that became an icon for generations of American shoppers, filed for bankruptcy, saddled with billions of dollars of debt racked up as it struggled to adjust to the rapid shift toward online consumption. The company filed for Chapter 11 protection from creditors with the U.S. Bankruptcy Court in White Plains, New York, early Monday and said Eddie Lampert is stepping down immediately as chief executive officer. At the same time, Lampert’s ESL Investments Inc.…

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Sears files for Chapter 11 bankruptcy amid plunging sales

Sears has filed for Chapter 11 bankruptcy protection, buckling under its massive debt load and staggering losses. The company began as a mail order catalogue in the 1880s, featuring items from bicycles to sewing machines to houses.  It began opening retail locations in 1925 and expanded swiftly in suburban malls from the 1950s to 1970s. But the onset of discounters like Walmart created challenges for Sears that have only grown and it faced even more competition from online sellers and…

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Sears Files For Bankruptcy Protection « CBS Boston

NEW YORK (AP) — Sears has filed for Chapter 11 bankruptcy protection, buckling under its massive debt load and staggering losses. Sears once dominated the American retail landscape. But the big question is whether the shrunken version of itself can be viable or will it be forced to go out of business, closing the final chapter for an iconic name that originated more than a century ago. Holdings will also close 142 unprofitable stores near the end of the year.…

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Sears bankruptcy seen imminent as once-dominant retailer keeps shrinking

After its founding in the late 1800s by a watch seller named Richard Sears, who quickly hired a watchmaker named Alvah Roebuck, the company was first widely known for its merchandise catalogs sent to millions of Americans each year. The catalogs ran several hundred pages and sold a wide range of products, including clothing, appliances, sporting goods and even small houses. Source link

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How Sears went from being a retail icon to the verge of bankruptcy

On Friday, Reuters was first to report that Sears is planning to close 150 stores and keep at least another 300 open as part of a plan to restructure under US bankruptcy protection. On Thursday, Reuters reported Chief Executive Eddie Lampert is exploring a bid for some of the retailer’s businesses and real estate. Sears did not respond to multiple requests for comment. In September, the retailer said it is cutting down on lower-performing products and becoming more aggressive in…

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What You Need to Know as Sears Slides Toward a Bankruptcy Filing

Sears Holdings Corp., one of America’s most iconic retailers, is said to be planning to file for bankruptcy as early as this Sunday. Negotiations over the fate of the fallen company have been continuing this week, as it faces a critical $134 million of debt that is maturing on Oct. 15. Scenarios for the Disposition of the Company As of Friday afternoon, the company and its creditors were still hammering out the details of a bankruptcy plan. Sears is…

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Sears, the Original Everything Store, Nears a Bankruptcy Filing

Sears more than a century ago pioneered the strategy of selling everything to everyone. But it has long since given up that mantle as a retail innovator. It was overtaken first by big box retailers like Walmart and Home Depot and then, by Amazon as the go-to shopping destinations for clothing, tools and appliances. In the last decade, Sears had been run by a hedge fund manager, Edward S. Lampert, who sold off many of the company’s valuable properties and…

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Sears: Will It Shrink, or Close?

As Sears Holdings Corp. SHLD 18.97% plans to file for chapter 11 protection Sunday, the big question is whether a smaller Sears emerges from bankruptcy or whether the filing leads to a liquidation and a final end to the storied department-store chain. Sears in recent days reached an 11th-hour deal with lenders that will allow the troubled retailer to keep hundreds of its stores open through the holidays. The deal followed days of marathon negotiations at the New York offices…

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