Sears Files Ch. 11 In NY With Sale, Store Closing Plans
Law360 (October 15, 2018, 8:12 AM EDT) -- Hours away from a major default and facing pressure to liquidate, Sears Holdings Corp. took its long-struggling retail chain into bankruptcy court early Monday with more than $11 billion in debt and plans to sell assets.
This photo shows a Sears department store in Brooklyn, New York, on Oct. 10, five days before the long-struggling retail chain filed for bankruptcy. (AP)
In court filings early Monday morning in New York, the 68,000-employee company reported that it hopes to sell around 400 earnings-positive stores, along with other potentially viable sites and assets, including intellectual property, while under Chapter 11 protection.
Sears Chairman and...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!