Why did Sears file bankruptcy? What are the ramifications of Sears filing a bankruptcy? more of a discussion in 300 words.
Sears, once was America's most iconic retailer, is now reportedly on the verge of bankruptcy.
Sales have fallen to about its half since 2014, and the company is burning through cash, closing hundreds of stores, and slashing jobs in an attempt to snatch the bleeding. With millions of debt repayment deadline, the company is in the verge and is now Preparing for a bankruptcy.
This move would enable the Sears to restructure in terms of hopes of reemerging from bankruptcy with part of the business still standing.
The major ramification or consequences of bankruptcy of Sears are as follows:
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