We went to Sears and saw why the company is imploding

Sears' losses are mounting.

The company said Thursday that revenue fell 13% to $5 billion in the third quarter, with losses widening to $748 million from $454 million in the period last year.

Same-store sales dropped 7.4%, including a 10% decrease at Sears stores and a 4.4% decrease at Kmart stores.

The company said it would continue to accelerate store closings to help stop the bleeding.

According to analysts, the stores that remain open are shells of what they once were and that it's only a matter of time before the retailer goes bankrupt.

We visited a Sears store in Richmond, Virginia, in June to see what is going wrong.