WE’RE ALL OVER THE LOWER HUDSON VALLEY

BUSINESS

Sears files for Chapter 11 amid plunging sales, massive debt

NEW YORK (AP) — Sears filed for Chapter 11 bankruptcy protection Monday, with plans to shutter 142 unprofitable stores in the hopes that it can stay in business.

The question now is whether a smaller version of the company that once towered over the American retail landscape can be viable. Sears, which started as a mail order catalog in the 1880s, has been on a slow march toward extinction as it lagged far behind its peers and incurred huge losses over the years.

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Hispanic market in New Rochelle targeted in FBI raid

NEW ROCHELLE — Sources confirm there was an FBI raid the Super Mercado Mexico store front on Union Avenue Thursday morning.

The store is currently locked up and closed for business, with no details around why it was raided.

FiOS1 News contacted the New Rochelle Police Dept. but were not able to get additional details.

Partners at LoHud say the raid was related to an investigation involving federal prosecutors in Connecticut, and that it was related to drug and gang activity.
The U.S. Attorney’s Office for the southern district said they will be issuing a press release on this matter.

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