Sears filed for bankruptcy

Sears Holdings, the owner once the largest chain stores in the United States, filed for bankruptcy.

132-year-old company for several years trying to get out of debt. The last straw was the debt in the amount of $134 million, the payment of which Sears has failed.

Statement Sears (we will remind, now the company owns the brands of Sears and Kmart) filed in Federal court on Affairs about bankruptcy in new York this morning, October 15.

The largest shareholder Eddie Lampert has already resigned CEO. Temporarily the company will operate 3 of the top Manager.

Over the past decade, Sears has been unable to compete with online stores, and Walmart and Home Depot, which has surpassed Sears on price and convenience. During the heyday of the Sears was the Amazon of its time.

Established in 1886 an employee of the train station Richard Sears, the company began to work first in Minnesota, then in Chicago. The first Sears catalog, published in 1896, changed the American market. It was a huge marketing breakthrough: buyers from farms and small towns could now order everything you need from clothes to furniture in the mail.

And yet, Sears is going to stay in business and keep the profitable stores, although usedonmost of the shops will sell, and by the end of the year, closed nearly 190 retail outlets.