Monday Wake-Up Call: Sears files for bankruptcy, and other news to know today
Posted in: Uncategorized
Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. You can get an audio version of this briefing on your Alexa device. Search for “Ad Age” under “Skills” in the Alexa app.
What people are talking about today: Sears, longtime giant of American retail, has reportedly filed for bankruptcy protection. Sears Holdings Corp. “collapsed into bankruptcy under pressure from too much debt and too few shoppers,” Bloomberg News reports, adding that the company lodged its filing at the U.S. Bankruptcy Court in New York. There’s a lot of history at stake here. As USA Today has noted, Sears
“launched its own merchandise brands, such as Kenmore and DieHard, created Allstate Insurance, and even ventured into the stock brokerage and real estate brokerage businesses. At one time, it owned and occupied the tallest building in America, the Sears Tower in Chicago. It even had the foresight to partner with CBS and IBM in an early Internet portal known as Prodigy.”
Post a Comment