by Bob Walsh
On Monday Sears Holding filed for Chapter 11 bankruptcy protection. They had a large loan payment due and just could not cover it. They are also closing 142 more stores in addition to the 46 previously recently announced.
At the moment Sears has 680 locations and about 6,800 employees. The stock is down to 32 cents per share.
Personally I hope they manage to pull it off. I am, however, not holding my breath.
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