Sears Files for Chapter 11 Bankruptcy

It was roughly a month ago when Eddie Lampert of Sears planned to restructure to avoid filing for bankruptcy. 

With fewer shoppers and a mountain of debt, Sears finally filed for Chapter 11.

Sears can still survive if a miniature version of itself can turn things around.

"This is a company that in the 1950s stood like a colossus over the American retail landscape," says the president of Customer Growth Partners Craig Johnson. "Hopefully a smaller new Sears will be healthier."

What do you think caused fewer people to shop at Sears? What are the chances Sears can survive?

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