Capital, Earnings & M&A
Market Value Plunges 90%, World Retail Giant Files for Bankruptcy: Defeated All Rivals, but Lost to the Times
On October 15, Sears, a retail giant with 132 years of history and sales that once reached 1% of U.S. GDP, officially filed for bankruptcy protection, putting 80,000 jobs at risk. Sears was once the world's largest private retail enterprise, inventing retail formats such as department stores, chain stores, and shopping malls. However, since 2010, Sears has been in a loss-making state, with cumulative losses of $10 billion and debt of $4 billion. In 2017, Sears Canada filed for bankruptcy liquidation, leading to 12,000 job losses.
插坐学院