Wednesday, March 22, 2017

Sears says there's ‘substantial doubt’ it can stay in business

SearsSears revealed "substantial doubt" about its ability to stay in business in an annual report filed late Tuesday.

"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," the company said in the report.

Sears said its efforts to generate cash by selling or licensing brands like Kenmore and Diehard, as well as selling valuable real estate, should mitigate that doubt and satisfy its estimated cash needs for the next 12 months.. . . more

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