Chapter 11 bankruptcy

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.

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Merrimack, N.H. — Brookstone Co. Inc. has filed for bankruptcy and will close its remaining 101 mall locations. The Merrimack, N.H.-based retailer filed for Chapter 11 protection on August 2, 2018, the second time it has done so in the last 5 years. The company first filed for bankruptcy in 2014 and was sold to a Chinese investment group for more than $173 million. The retailer cited the “extremely challenging” retail environment at malls as a factor in its struggles.

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