Retail giant Sears is in big financial trouble. February 24, 2012- Sears Holdings Corp announced a fourth quarter loss of $2.4 billion late Wednesday. The company also said it was planning a set of initiatives that includes plans to increase liquidity to help it recover from such dreadful sales the last 12 months. Edward Lampert the Chairman said, “The poor 2011 financial results indicate clearly the need for a transformation of the company.” He added, “While some say the results are a trend,... 

Retail giants Sears and Kmart are approaching bankruptcy. December 28, 2011- Both Kmart and Sears announced they would be closing nearly 120 stores following a fall in holiday sales. Analysts say the two chain stores might even disappear completely if they cannot turn around sales. Sears Holding Company holds control of both and announced its plans on Tuesday to shutter the 120 stores. The company, says many industry experts, has had four consecutive years of sales declines in its 2,200 U.S. stores....