Is The Never-Ending Sears Saga Finally Reaching Its Closing Chapters?
In October 2018, one Sears holding company (with a multitude of subsidiaries) went into bankruptcy. As though by some dark science, an identity split occurred in Chapter 11. Out came a new Sears, Transformco, with the last remaining stores of a one-time retail empire. The old Sears, Sears Holdings, remains a corporate shadow, like a tortured doppelganger, stuck in bankruptcy ever since. The Sears Holdings that filed for bankruptcy amounts to a tangle of paper corporate entities, a massive pile of bills and a perpetual litigation machine. Most of the world has forgotten both. “In the world of retail, Sears ceased being a factor four or five years ago,” Nick Egelanian, retail analyst and president of retail development firm SiteWorks, said in an interview. “You cared about it if you had it in your [shopping] center. Other than that, nobody cares. Why would you care?” Read more at Retail Dive.