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Sears out of bankruptcy, a handful of stores are left

Mount Equity Group Tokyo Japan > News > Business > Sears out of bankruptcy, a handful of stores are left

Alba Wheels Up International founder Salvatore Stile says importers and retailers are predicting a supply chain ‘decline coming about.’

Sears Holdings has emerged from bankruptcy after more than 10,000 court filings and a four-year stay that saw the department store chain shrink from almost 700 stores to less than two dozen.

The bankruptcy estate’s reorganization plan took effect on Oct. 29, signaling an end to Chapter 11 and the start of a liquidation process for its remaining assets.

Sears Holdings is a shell company. It sold its stores in February 2019 to ESL Investments, an affiliate of former Sears chair Eddie Lampert. The $5.2 billion sale included more than 400 retail locations.

Syracuse University professor of retail practice Ray Wimer doesn’t expect the remaining 20+ Sears stores from that sale to survive. “They do not have an appealing value proposition to customers and the amount of competition in the retail…

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