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Sears On Brink Of Bankruptcy, Report Says
After years of store closures, Sears, once the world's largest retailer, could be just days away from facing bankruptcy.
The 125-year-old company, which has not turned a profit since 2010, has approached several banks to prepare for a bankruptcy filing, according to CNBC.
Sears has a $134 million debt payment due Monday that it previously reported it cannot cover, the report said.
Eddie Lampert, a hedge-fund manager who took over as Sears CEO in 2013, said in late September that despite changes in the way it does business, the future looked bleak for the once vibrant company.
“The journey…
Celebrated Brooklyn Chef Brings A New Kind Of Chinese To Irvington
Ben Pope wants to change folks' minds about Chinese food in Westchester.
And so, along with his partner, Erikka Hunter, the co-owner of Heart to Hand Healing Center in Tarrytown, he's opened Mr. Koo's Kitchen in Irvington, a whimsical, authentic Cantonese eatery.
The format of the cuisine is Chinese family-style, meaning food is served in small plates with large plates designed for the table.
"Dining to me is about community and sharing great moments together over a meal," he said. "Have a bottle a wine, hold onto a menu in case you want to try some other dishes, stay awhi…
Three NY Stores Among 20 New Sears Closures
Three stores in New York and one in New Jersey are among the 20 stores nationally Sears will be closing in addition to the 245 closures that had been announced earlier this year.The stores are:
Central Avenue, Albany, NY
Jericho Turnpike, East Northport, NY
Harry L. Drive, Johnson City, NY
Route 22, Watchung, NJ
The closures will bring the number of Sears stores to 1,180, about half the number of stores that were operating five years ago: 2,073.
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