It's Official: Sears Files Bankruptcy


Sears filed Chapter 11 bankruptcy Monday morning, this will allow them to continue operating stores and provide protection from creditors. However, Sears is moving forward with plans to close as many as 142 Sears and KMart stores before the end of 2018. 

Currently, there are 687 Sears and Kmart stores that remain open in the US. The Sears location in Wilton Mall will not be closed as a result of the filing, although the Aviation Mall location is expected to close at the end of November. Kmart locations in Greenwhich and Queensbury will also remain open, the location at Viaport Rotterdam will close. 

Once the largest Sears store in the area was the Colonie Center location, which closed last year. 

[Post Star] [CNN] [Wall Street Journal]

photo: Mike Mozart, Flickr Creative Commons


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