Sears Files for Bankruptcy, Plans Store Closures

Alhough many American retailers have adapted or improved on the gloomy outlook from even a single year ago, one major outpost hasn't been able to pivot swiftly enough. Sears has filed for Chapter 11 bankruptcy to protect its shareholders, while CEO Edward "Eddie" Lampert has stepped down (he will stay on as the company's chairman however). Over the course of a decade, Lampert has tested out a variety of strategies to beat out Sears' rivals, at the expense of strong core leadership and innovation...