A quick note on the Sears bankruptcy

The iconic department store, Sears, has filed for protection under Chapter 11 of the US bankruptcy code. Retail has changed a lot in recent years. And for Sears specifically, this bankruptcy has been coming for a long time. It was signalled last week. So, it's not a surprise to anyone.

The key, however, is that Sears is filing under Chapter 11 to restruc…