Sears Could Soon Be Liquidated

CHICAGO, IL - AUGUST 24: A sign announcing the store will be closing hangs above a Sears store on August 24, 2017 in Chicago, Illinois. Sears Holdings Corporation, which owns both Sears and Kmart, said today it was planning on closing another 28 Kmart stores. (Photo by Scott Olson/Getty Images)
CHICAGO, IL - AUGUST 24: A sign announcing the store will be closing hangs above a Sears store on August 24, 2017 in Chicago, Illinois. Sears Holdings Corporation, which owns both Sears and Kmart, said today it was planning on closing another 28 Kmart stores. (Photo by Scott Olson/Getty Images)

Sears Could Soon Be Liquidated

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)

Sears Inches Toward Liquidation, Decision Due Tuesday On Whether Eddie Lampert’s Bid Is Viable (CNBC 1/7/19)