Retail News

Sears warns of concerns over ability to continue in business

ABC News 03/22/2017

Less than six weeks after announcing a restructuring plan designed to trim $1 billion in costs, Sears has issued a statement suggesting management sees its options drying up. “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” Sears wrote in its just-released annual report. The statement implies that the retailer, once the largest in the U.S., will soon no longer have the liquidity to stock its shelves or procure necessary business services.

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