Sears Files for Bankruptcy, Adds to Long Line of Struggling Major Chains

Former department store giant Sears filed for bankruptcy early Monday morning.

The original one-stop store has had serious financial problems in recent years and has major debt.

The company was unable to pay a $134 million debt payment due Monday.

There are plans to close 142 stores across the country.

Liquidation sales are expected in the near future.

This is just the latest in a long line of major chains that have been struggling since online shopping has become popular.