<br /> On Monday, Sears Holdings Corp filed for Chapter 11 bankruptcy.<br />Reuters reports that Sears will close 142 unprofitable Sears and Kmart locations.<br />The company seeks to reorganize around financially healthier stores.<br />Declaring bankruptcy triggered a “time bomb” that retailers have had a tough time surviving.<br />Bankrupt retailers have had less time to make major strategic decisions for their survival.<br />New rules have given landlords and lenders more leverage in the process. <br />
