Women army the counters of one of the aboriginal Sears retail food in 1925.
Corrections and Clarifications: A antecedent adaptation of this timeline misstated the date Sears awash its acclaim portfolio to Citibank.
Sears has aloof filed for defalcation protection. As it fights for its life, here’s a attending at the company’s acceleration to acceptable the nation’s top retailer, and its fall.
1886: Richard W. Sears, a railroad agent, starts affairs watches as a ancillary gig in Minnesota. Later that year, he founds the R.W. Sears Watch Aggregation in Minneapolis.
1887: A watchmaker named Alvah C. Roebuck answers Sears’ advice capital ad. Sears confused his aggregation to Chicago.
1888: The average the aggregation would be accepted for, the catalog, debuts. The aboriginal one had alone watches and jewelry.
1889: Sears sells his watch business for a accumulation of $72,000.
1893: The two men accompany armament again, call their new adventure Sears, Roebuck.
More: Sears may book for defalcation as debt acquittal looms, letters say
1894: The catalog’s folio calculation jumped to 322 and included aggregate from bed-making machines to sports equipment.
1895: Roebuck exits the company.
1906: Sears offers banal in an IPO.
1908: Co-founder Sears retires.
1925: Sears opens its aboriginal store. It was in Chicago.
1927: Sears creates Kenmore cast for accessories and Craftsman cast tools.
1931: Sears introduces Allstate Insurance.
1933: The Christmas archive debuts
1941: Sears stops alms advantage by mail order.
1945: Sears acme the $1 billion sales mark.
1946: Sears launches plan to body food in suburbia.
1953: The Sears acclaim agenda is introduced.
1967: Sears creates DieHard batteries.
1968: The Christmas archive is re-christened the Wish Book.
1973: The Sears Tower, again the tallest architecture in the world, becomes Sears’s new home in Chicago.
1975: Sears becomes the absolute supplier of Pong.
1981: Sears buys banal allowance Dean Witter and absolute acreage alternation Coldwell Banker.
1985: Sears introduces the Discover Card.
1991: The aggregation loses the acumen of actuality the nation’s “top-selling retailer” to Walmart.
1992: The accumulated address relocates to Hoffman Estates, Ill.
1993: Sears stops bearing the Big Book catalog. The aggregation additionally awash Coldwell Banker and Sears Mortgage Banking Group as able-bodied as aing to 20% of Allstate and spun off Dean Witter.
1994: Sears sells the Sears Tower.
1995: Sears spins off Allstate into a abstracted company.
1998: The Christmas archive website, wishbook.com, debuts, one year afore Sears.com goes live.
2002: Sears buys Lands’ End.
2003: Sears sells its $30 billion acclaim portfolio to Citibank.
More: Sears ‘must act immediately’ to extend life, Lampert’s armamentarium says
2005: Kmart and Sears merge.
2014: Lands’ End is spun off.
2015: Sears raises $2.7 billion by affairs food to Seritage Growth Properties, a real acreage advance trust
Jan. 4, 2018: Sears announces a $500 actor accommodation from CEO Edward Lampert’s barrier fund. The aggregation had already gotten loans of hundreds of millions of dollars previously.
Jan. 5: Sears reveals its plan to advertise Craftsman to Stanley Black & Decker for an estimated $900 million.
March 9: The aggregation announces it absent $607 actor during the fourth quarter.
More: Sears, Kmart closing added food as retailer’s struggles continue
Aug. 14: Lampert offers through his barrier fund, ESL Investments, to buy the Kenmore abode apparatus cast for $400 million, as able-bodied as $70 actor to $80 actor for the home advance arm of the Sears Home Services Division – a accord Lampert says is “critical.”
Aug. 23: Sears says it will aing 13 Kmart and 33 Sears locations in November.
Sept. 23: Lampert’s barrier armamentarium says in a angle that the banker “must act anon to accept acceptable aerodrome to abide its transformation.” It recommends $3.22 billion in asset sales, including $1.47 billion for absolute acreage which ESL Investments would buy afterwards a year if no added buyers stepped up.
Oct. 3: Sears says it will aing at atomic two Kmart food and one Sears location, according to blow notices filed by government authorities.
Oct. 9 and 10: Reports say that Sears is alive with admiral to adapt to possibly book for bankruptcy, as anon as this week.
Oct. 15: Amid a borderline for a $134-million debt payment, the aggregation files for Chapter 11 defalcation protection. Eddie Lampert resigns as CEO but will abide chairman. A new “Office of the CEO” will administer the company.
Source: Sears, USA TODAY research
Charisse Jones contributed to this report.
Copyright 2017 USATODAY.com
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