Sears Holdings filed for Chapter 11 bankruptcy protection early Monday morning.<br />Business Insider reports that the iconic American retailer will close 142 stores by the end of 2018.<br />The department store has seen sales numbers drop by more than half since 2014.<br />The company announced on Monday that Eddie Lampert will step down as CEO, but remain chairman.<br />The store closings will impact hundreds of employees who will lose their jobs. <br />
