Sears filed for bankruptcy in October 2018 after years of decreased sales and surmounting debt. The retail chain made the bankruptcy filing after it was unable to pay back a $134 million debt payment that was due, CNN reported. As part of the bankruptcy filing, Sears announced that it would be closing an additional 142 stores by the end of the year on top of the 46 store closures it already had planned. As of Nov. 14, Sears was finalizing a $350 million bankruptcy loan that would allow it to remain operating through the holidays, Reuters reported. Learn what Sears' bankruptcy will mean for holiday shoppers.