Sears, Roebuck and Co., often called Sears, can be an American chain of shops founded by Richard Warren Sears and Alvah Curtis Roebuck in 1892, and reincorporated by Richard Sears and Julius Rosenwald in 1906. Formerly based at the Sears Tower in Chicago and currently headquartered in Hoffman Estates, Illinois, the procedure commenced as a mail ordering catalog company and commenced opening retail spots in 1925. The first location was in Chicago, Illinois. In 2005, the business was bought by the management of the American big box chain Kmart, which formed Sears Holdings after completion of the merger.
Get Upto 50% Off in Amazon Black Friday Sale
Through the 1980s, Sears was the most significant retailer in america; Walmart and Kmart surpassed Sears in sales in 1990. In 2018, Sears was the 31st-largest retailer in america. After many years of declining sales, Sears’ parent company filed for Chapter 11 bankruptcy on October 15, 2018. Sears announced on January 16, 2019, that it had won its bankruptcy auction and would shrink and remain open with 425 stores, including 223 Sears stores. Nevertheless, the trend of Sears and Kmart store closures continues, with only 95 stores, including 61 Sears stores, likely to remain open after a wave of store closures announced in July .