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Sears Holdings owned 51 percent of Sears Canada, [12] a large department store chain in Canada similar to the U.S. stores. At one point it owned as much as 92% of the Canadian company, [13] but it failed in 2006 to buy the remainder of Sears Canada that it did not own because Bill Ackman took a 17.3 percent stake in it and prevented any ...
Sears, Roebuck and Co., commonly known as Sears (/ s ɪər z / SEERZ), [6] is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail-order catalog company migrating to opening retail locations in 1925, the first in Chicago. [7]
The once-dominant American retailer hopes to reemerge with some part of its business intact.
On October 14, 2018, Sears' parent company Sears Holdings filed for chapter 11 bankruptcy protection leaving the future of the Kenmore brand undecided. Sears will continue to sell Kenmore products and honor warranties while it undergoes restructuring. [13]
Sears CEO Eddie Lampert has blamed the company's decline on the media, shifts in consumer spending, and the rise of e-commerce, among other reasons. Sears has filed for Chapter 11 bankruptcy Skip ...
Even suppliers have been pulling out of one retail chain's stores, as analysts predict the company could declare bankruptcy as soon as next month. Sears is on the brink of catastrophe as stores ...
When Sears sent him a new credit card in the mail recently, he said, "I just cut it up. Sears put a lot of small retailers out of business one-hundred-plus years ago, now they are committing suicide."
Further dismantling of the Sears and Kmart store network continued in the subsequent years, and as of 2024, only eight Sears stores and one Kmart store remain in the continental United States. [283] [284] Shopko filed for bankruptcy on January 16, 2019, and planned to close 250 of its more than 360 stores. However, on March 18, 2019, Shopko ...