Former retail juggernaut Sears files for bankruptcy

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The original “store that sells everything” is filing for bankruptcy. Could it impact CherryVale Mall?

Sears, the previously dominant retail chain, made the announcement Monday. The company was due to make a $134 million debt payment due Monday, but it couldn’t.

Sears has been around for 132 years and has had financial issues over the past few. Sears Holdings, which also owns K-Mart, is not planning to go away; it will keep open its more profitable stores and online presence.

The company is planning to close another 142 stores. As of now, there have been no announced plans to close the CherryVale Mall location. Sears occupies one of the anchor stores at the mall. Earlier this year, another anchor store, Bergners, did close at CherryVale after its parent company, Bon-Ton, also filed for bankruptcy.

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