Omnichannel

Sears emerges from bankruptcy

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November 8, 2022

Sears, once a brand-name retailer dominating in the suburbs, has emerged from bankruptcy with less than 24 stores in operation.

Before filing for bankruptcy four years ago the chain had approximately 700 stores open, according to a Fox Business report. At its highest point the company known as Sears Roebuck was the biggest retailer in the world with nearly 3,500 stores open.

Now the chain will undertake a liquidation effort and one industry watcher expects the remaining stores to close during the process.

"They do not have an appealing value proposition to customers and the amount of competition in the retail marketplace offering similar goods means the end will come at some point," Syracuse University professor of retail practice Ray Wimer told Fox Business.