As part of Sears Holdings’ processes to facilitate its financial restructuring, the company informed employees at 80 stores that the locations will be shutting down.
American Tire Distributors, Inc. completed its financial recapitalization and emerged from Chapter 11 bankruptcy.
American Tire Distributors, Inc.’s plan for Chapter 11 reorganization will go before the court for approval this week, and has already gained near-unanimous acceptance by voting stakeholders, the company said.
Sears Holdings Files For Voluntary Chapter 11; Initiates Processes To Facilitate Financial Restructuring
In a move to streamline its operating model and grow profitably for the long-term, Sears and some its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code.