TeeRoy's 2 Cents:
- It's just the latest, and perhaps the biggest, retailer to fall victim to the rise of online shopping.
- This is a sad day for a lot of Americans who have nostalgic feelings for the store.
- Sears hasn't turned a profit since 2010.
- Sears's problems go back decades.
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Sears Holdings Corporation, which owns Sears and Kmart, failed to reach an agreement on a takeover bid and appears to be heading toward a complete liquidation of its assets. That would close all of its remaining stores and leave as many as 68,000 people out of work.
Sears filed for bankruptcy in October and closed 300 of its remaining 700 stores. (CNBC)