Sears files for Chapter 11 bankruptcy

Sears has filed for Chapter 11 bankruptcy protection.

It news comes following plunging sales and massive debt.

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.

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.