Sears and Kmart File for Bankruptcy

Updated: Oct 17, 2018

For the past couple of weeks, Sears and Kmart were both filing for bankruptcy. It was struggling due to the unpaid debts. For instance, the owner of Sears and Kmart had a debt payment that was due Monday, October 15, 2018. They were unable to pay because it was a burden of money for the owner and other employees helping. Hundreds of Sears and Kmart stores were closed. Many of those stores are closed not forever, but it will be temporary. Bankruptcy doesn't necessarily mean that all stores will close permanently. There are only 700 stores are still open throughout the entire nation, but officials say that 142 of them will be closed by next week because of maintenance, etc. They try to open their stores and with their website, but this inconsistent rate of unpayable bills and taxes will result in shutting down Sears and Kmart stores and abolishing the store's website. Let's see what will happen next.


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