Sears Holdings Files for Chapter 11 Bankruptcy; CEO Steps Down

Hoffman Estates, Ill. — On October 15, 2018, Sears Holdings Corporation and certain of its subsidiaries have filed voluntary petitions for Chapter 11 bankruptcy relief. Effective immediately, the company’s chairman and CEO, Edward S. Lampert, is stepping down from the CEO role. Also, the company will close 142 stores in addition to the previously announced 46 store closings.

Sears Opens Unique Concept Store in Honolulu

Hoffman Estates, Ill. — Sears has opened a new store dedicated to appliances and mattresses in Honolulu. The unique retail concept focuses on two of Sears's strongest categories, appliances and mattresses, while continuing to offer the expertise and capability of its leading integrated services. The new store builds on the success of the first Sears Appliances & Mattresses store located in Pharr, Texas, which has been open since June 2017, as well as the Sears Appliances store, which opened in Ft. Collins, Colo., in 2016.

Sears Opens First DieHard Auto Center

Hoffman Estates, Ill. — Sears is opening a first-of-its-kind DieHard Auto Center Driven by Sears that is designed to meet the ever changing needs of today's driver. The new store in San Antonio opened on February 17, 2017.

Executive Changes at Brookstone

Merrimack, NH — Brookstone CEO Ron Boire has resigned, leaving Brookstone chairman Jackson Tai to serve as interim president/CEO. Brookstone also has promoted James Speltz to vice president, COO.

 

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