After a failed bid by chairman Eddie Lampert to purchase several hundred stores out of bankruptcy, Sears Holding Corp. appears to be on the path to liquidation, according to Bloomberg.
The Hoffman Estates-based chain filed for chapter 11 bankruptcy in October after years of mounting debt and repeated failures to re-invigorate its brand.
Sears was one of the most successful American retailers of the 20th century, and for decades, it managed to innovate. The business morphed from a shopping catalog to downtown department stores and suburban malls.
But in more recent years, the Sears brand lost its sheen, and it did not keep pace to compete with big box stores and online retailers.
Morning Shift discusses what liquidation would look like for one of the country’s most storied retailers.
GUEST: James Schrager, clinical professor of entrepreneurship and strategy at the University of Chicago Booth School of Business
LEARN MORE: Sears Prepares For Possible Liquidation (Bloomberg 1/5/19)