Detailed text transcripts for TV channel - CNN - 20181015:08:10:00
It's shut 2,600 stores and the final straw, a $134 million debt payment due today. it couldn't pay it. sears is one of many prominent retailers to declare bankruptcy thanks to the rise of online boxing and sears failed to invest and modernize. it will stay in business, it will keep profitable stores and the website open, but sears will close nearly 200 stores this year. eddie lampert will give up his title of ceo. he said the bankruptcy process will allow sears to become profitable, but many retailers have gone out of business after filing. think of toys "r" us, radio shack and sports authorit...