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Sears ready to file bankruptcy later tonight as former US retail giant tries to stay alive
Sears Holdings plans to file for bankruptcy protection after midnight in the East Coast, culminating the collapse of what was once America's largest retailer, people familiar with the situation tell CNBC. As part of the bankruptcy plan, Sears will immediately close roughly 150 of its stores, people familiar with the matter have said. It has approximately 700 stores, one of the people said. It is unclear how the closures would impact Sears' workers, which totaled roughly 90,000 in February 2018.