In the US went bankrupt trading giant

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В США обанкротился торговый гигантThe company had to make huge payments to creditors.

American retailer Sears, which at the time was the world’s largest chain of stores, filed for bankruptcy, according to Voice of America.

As it became known, the firm went bankrupt in an attempt to find protection from creditors after multibillion-dollar losses.

The value of the company estimated at $ 7 billion, but its credit obligations exceed 11 billion.

The company has applied for protection in accordance with Chapter 11 of the U.S. Code on bankruptcy.

Documents sent on 15 October, when the company had to make huge payments to creditors.

Sears will close 142 of the remaining stores, approximately 500 stores will continue to work. At the same time, the distribution network of the company consisted of 4 thousand stores.

The company started in 1886 with the sale of clocks, but soon expanded, becoming the largest retailer in the country.

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