Sears files for bankruptcy

A Sears Essentials store in Palatine, Illinois. (AFP pic)

HOFFMAN ESTATES: Sears Holdings Corp filed for Chapter 11 bankruptcy on Monday, throwing into doubt the future of the century-old retailer that once dominated US malls but has withered in the age of internet shopping.

Sears listed assets in the range of US$1 billion (RM4.16 billion) to US$10 billion and liabilities in the range of US$10 billion to US$50 billion, according to a court filing.