Sears Leaves Bankruptcy Behind With Braintree Store 1 Of Only 22 Left

BRAINTREE, MA — American retail stores aren't what they once were, just look at Sears.

Sears Holdings recently announced a reorganization plan which began at the end of October, signaling the end of the company's bankruptcy which began in 2018.

Now, the company limps back into the fold with only 22 retail stores still open, including one in Braintree.

Fox Business first reported the development and notes that one business expert doesn't expect the remaining stores to survive much longer.

"They do not have an appealing value proposition to customers and the amount of competition in the retail marketplace offering similar goods means the end will come at some point," said Syracuse University professor of retail practice Ray Wimer.

As for the remaining Braintree location, the store is located in South Shore Plaza at 250 Granite St. According to the store's website, it's also the only remaining location in the New England region.

Locations in Marlboro, North Attleboro and Brockton closed in 2021.

Sears filed for Chapter 11 bankruptcy in 2018 on the same day a $134 million debt payment was due from the Illinois-based chain. Sears Holdings, the parent company of Sears and Kmart, made the filing in federal court in New York.

According to Fox, Sears Holdings, a shell company, sold the stores in February 2019 to an investment firm affiliated with former Sears chair Eddie Lampert for $5.2 billion. The sale included 400 retail locations at the time, with all but 22 now shuttered.