Headlines

Sears Hometown Files for Bankruptcy

Chapter 11 move comes amid disputes with “new Sears”

Published

2 years ago

December 14, 2022

VMSD Staff

Sears Hometown Files for Bankruptcy — Shutterstock.com

Shutterstock.com

Sears Hometown Stores (Hoffman Estates, Ill.), a home goods-focused offshoot of the failed retail giant, has filed for Chapter 11 bankruptcy in Delaware, where it is incorporated, Retail Dive reports. In its filing, the company said it has less than $50 million in assets, but $50 million to $100 million in liabilities.

The chain, including locations run by independent dealers, has about 121 stores in 26 states and Puerto Rico, down from nearly 500 when TransformCo, also known as “new Sears” run by Eddie Lampert, reacquired it.

Sears Hometown relies “substantially on TransformCo to provide key products and services,” and the bankruptcy is necessary in part because TransformCo failed to do so, according to a court filing from Sears Hometown CEO Elissa Robertson.

Related Topics:bankruptcies department stores sears

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

click to Comment(Comment)

Up Next

P.F. Chang’s Opens New York Flagship

Don't Miss

RH to Remodel All Stores, Unveil New Gallery Design

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design