Sears Holdings Corp., parent of the Sears and Kmart retail chains, filed for Chapter 11 bankruptcy - 10/15/2018

If finally happened today that once retail giant Sears Holdings Corp., parent of the Sears and Kmart retail chains, files for bankruptcy protection and will close another 142 stores immediately.

 I am sad to see things move in the direction that it did and while they may not be the product and brands it once was, they have created many memories from its annual Christmas Wish Book catalog and Craftsman tool line that I will never forget. I remember grabbing that catalog and circling everything I wanted for Christmas many years when I believed in Santa Clause.  I remember visiting the "Sears Tower" in Chicago when I was 10 years old and thinking that I could actually look over Lake Michigan and see the world curve.  The thing that I will remember the most is the times it allowed me to spend with my father: " Working on projects around the house.  Working on cars.  Buying tools and returning broken tools.  " 

 Eddie Lampert the current CEO will step down immediately.  He once was thought to be the next Warren Buffett, but not so anymore.  My prediction is that the chapter 11 reorganization won't be successful and things will fully liquidated within the next 2 years or sooner.











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