Sears goes bankrupt

[edd_jedi]

https://www.bbc.co.uk/news/business-45859722

As a Brit I have never been to Sears, however I have been aware of it since my early collecting days in the 90s due to the mythical "Sears Exclusives" you would read about in the Tomart guides.

 

[Mini99]

Wow... that's incredible.
They are a big staple of the American high street.
It appears nothing is safe on the high street these days!

 

[TheJabbaWookie]

Holy Giveaways Batman! :shock:

 

[weasel]

Not bankrupt guys. It's in "Chapter 11". It's similar but not the same.
There isn't really a UK equivalent of it, but it allows a company to continue trading and stops its creditors from trying to have it declared bankrupt or force more onerous terms on it.
It basically gives management a chance to trade their way out of trouble without the distraction of worrying about what the bank etc will do.

Doesn't always work, and sure as **** isn't a good thing, but it's doesn't necessarily mean they are gone. Yet.

 

[Snaketibe]

Sad and depressing news, but perhaps not very surprising either in these days of the juggernaught that is Amazon.

 

[StarWarsFan]

Blimey first TRU now Sears remember going a few years ago was ace. Sad news indeed.