Thursday, December 6, 2018

Weaker Sears holiday forecast heightens doubts about its survival

Chicago Tribune
Revised internal forecasts show that Sears Holdings Corp. will bleed hundreds of millions of dollars more than it expected over the coming weeks, casting new doubt on whether the bankrupt retailer can avoid liquidation.

When the company declared bankruptcy Oct. 15, it filed a budget with revenue forecasts of $241 million for the week of Christmas and $1.93 billion for the two months ending Jan. 12. But an updated budget filed Friday shows only $215 million the week of Christmas and $1.69 billion for the entire two months, almost $246 million less than originally projected.. . . more