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…
J.C. Penney To Close More Stores, Lay Off Hundreds Of Employees
J.C. Penney says it will close eight stores in 2018, resulting in 480 job cuts.
This comes after the department store chain shuttered 140 stores in 2017.
The eight stores scheduled for closure this year are:
Hampton Village Plaza in St. Louis, Missouri
Garden State Plaza in Paramus, New Jersey
Sandburg Mall in Galesburg, Illinois
Viking Plaza in Alexandria, Minnesota
Washington Park Mall in Bartlesville, Oklahoma
Cascade Mall in Burlington, Washington
Calexico Store in Calexico, California
Knox Village Square in Mt. Vernon, Ohio
J.C. Penney had announced earlier this week, 600 jobs would …
Changes Afoot For Armonk Business Landscape
Downtown Armonk is seeing a changing of the guard.
Two longtime businesses, The Right Thing and Sheep Shack, are shutting their doors, while a host of new businesses will be opening soon.
Sheep Shack, which has sold women's clothes at 418 Main St. for 42 years will be closing at the end of February as its owner, Ronnie Zeidenberg, plans on retiring.
"It's been a very lucrative 42 years," Zeidenberg, who lives in Armonk, said. "I have wonderful customers, but it's time for me to move on. This is the right time."
Zeidenberg said it's a bittersweet feeling. Her customers …
