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Sterling Optical Files For Bankruptcy: Eyeglass retailer Sterling Optical Corp., pummeled by the recession and competition, said it filed for bankruptcy court protection and agreed to sell its stores. A drastic drop in sales brought on by the recession caused the company to seek shelter from creditors under Chapter 11 of the federal bankruptcy code, it said in a statement. Competitors such as LensCrafters and Pearle Vision were better able to weather the rough times, general counsel Amy Groveman said. “They have rich parent companies, and we don’t,” she said. LensCrafters is owned by U.S. Shoe Corp., while Pearle is owned by Grand Metropolitan. As of September, Sterling operated 105 company-owned optical stores and franchised another 113 outlets.