US Retail Giant Sears to br Officially Shut Down The company has announced plans br to liquidate after 126 years in business. The move comes after Chairman br Eddie Lampart's $4.4 billion bid to save br Sears was rejected by the br company's board. It is a huge fall from grace for Sears, which was once America's most famous retailer. Since the rise of Amazon and online retail shopping, it has struggled to br maintain relevancy. Sears, which hasn't produced a profitable year since 2010, filed for bankruptcy last October. As of now, there are 400 stores br and 50,000 workers.