| | Sears files bankruptcy, will close 142 stores | | Sears has had a huge presence in the U.S. for a long time, but their share of the big box retail industry will shrink once again after the chain announced it has filed for bankruptcy. Though Sears Holding announced it plans to stay operational in the face of the Chapter 11 filing, the company announced the closure of 142 stores across the country, including four in Michigan. The closures are piling up, as 46 additional stores were already set to close in November. Sears Holding, which also operates Kmart stores, currently has 700 stores with about 68,000 employees. MORE ►Four Sears stores included in new round of closures |
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