Posted inBusiness and EconomyLatest NewsState of Maryland

Sears files Chapter 11, to close at least 180 stores nationwide

Receives Commitments for $300 million Debtor-in-Possession Financing; Negotiating $300 million Junior Debtor-in-Possession Financing; Commences Voluntary Chapter 11 ProceedingsSears and Kmart Stores, Online and Mobile Platforms Remain Open for Business; Operations Continue in Normal CourseAnnounces Intent to Reorganize Around Smaller Store Platform of EBITDA-Positive Stores, Evaluation of Potential Sale of Stores, and Additional Store ClosuresImplements Leadership […]