Once mighty US retailer Sears files for bankruptcy - Labarai Ingantattu

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Once mighty US retailer Sears files for bankruptcy

Author: 
AFP
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ID: 
1539587667576093600
Mon, 2018-10-15 07:02

WASHINGTON: Sears, the venerable US chain that once dominated the retail sector but had been in decline since the advent of the Amazon era, filed for bankruptcy Monday and announced it was closing almost 150 stores.
With a history that stretches back to 1886, the company was a pioneer of departmental stores that catered to everyone and by the mid-twentieth century had built a vast empire that stretched across North America.
But it has closed hundreds of outlets in recent years amid a retail shakeout caused in part by the rise of Amazon and other e-commerce players.

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