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Sears Finally Files for Chapter 11 Bankruptcy

October 15, 2018Article
TheStreet

Embattled department store chain Sears Holdings Corp. (SHLD - Get Report) has finally succumbed to what long seemed inevitable. The storied retailer filed for Chapter 11 protection in the early morning hours on Monday,

The drumbeat of bad news led to downgrades at ratings agencies and widespread speculation of when a bankruptcy filing could come for Sears, with restructuring attorney Brian Davidoff of Greenberg Glusker Fields Claman & Machtinger LLP telling The Street in January: "Sears is at a break point. If there is a [bankruptcy] filing, that filing is likely to occur this year."

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