Sunday 18 November 2018
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Channel News Asia - 1 month ago

Sears faces tough foe: an unforgiving bankruptcy code

When Sears Holdings Corp filed for Chapter 11 bankruptcy on Monday, it said it would close another 142 unprofitable Sears and Kmart locations and seek to reorganize around financially healthier stores. It also triggered a time bomb that retailers have had a tough time surviving.

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