NATICK – Struggling retailer Sears, which has a store at the Natick Mall, has filed for bankruptcy.
Sears Holdings, which owns Sears and Kmart chains, is expected to file for federal bankruptcy in New York early this morning, October 15.
The company has a $134 million debt payment due today.
Sears is 132 years old, but is just another retailer in recent years that has filed for bankruptcy, including Sports Authority, Toys R Us, Radio Shack, etc.
In a statement released by the Sears, the company is looking for a buyer for its remaining stores.
The statement said the company will close another 140 stores in 2018. That is in addition to the 46 stores planned to close already.