Sears has filed for Chapter 11 bankruptcy protection.
It news comes following plunging sales and massive debt.
[Ads /]
The company has been around for 132 years.
It once dominated markets but has had financial issues over the past few years.
Whether a smaller Sears will remain is still in question.
[Ads /]
It joins a growing list of retailers that have filed for bankruptcy or liquidated in the last two years.
The operator of Kmart and Sears stores has already closed hundreds of locations.