Tuesday, April 4, 2017

How Much Damage Would a Sears Bankruptcy Cause?

gavelWith one line in its recent SEC report, Sears Holdings validated what everyone in the retail industry had been thinking for years. Sears’ accountants acknowledged in the company’s 10-K report for the fiscal year ending January 28, 2017 that “historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern.”

“Everyone in the industry knows Sears is going bankrupt, everyone expects it. It’s getting to the point that they are eating their own flesh,” says Howard Davidowitz, chairman of New York City-based retail consulting and investment banking firm Davidowitz & Associates Inc.. . . more

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