, Columnist
Sears's Last Gasp Could Breathe Life Into Rivals
The storied retailer's fall presents a bigger opportunity for competitors than you might think.
Market share up for grabs.
Photographer: TANNEN MAURY/Bloomberg
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There was only one plausible outcome in the long, tortured saga of Sears Holdings Corp., and it has finally arrived.
The retailing giant, which includes its eponymous department store and the Kmart discount chain, said Monday it has filed for Chapter 11 bankruptcy. It is set to close 142 unprofitable stores near the end of the year and Eddie Lampert, the financier who is its largest shareholder, is stepping down from his role as CEO.