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Wednesday, March 22, 2017

Sears: Growing Concern Warning

https://www.bloomberg.com/news/articles/2017-03-21/sears-warns-there-s-substantial-doubt-about-company-s-future


Sears Holdings Corp. suffered its worst stock decline in six weeks after acknowledging “substantial doubt” about its future, raising fresh concerns about whether a company that was once the world’s largest retailer can survive.
Sears added so-called going-concern language to its latest annual report filing, suggesting that weak earnings have cast a pall on its ability to keep operating. The 131-year-old department-store chain, which has lost more than $10 billion in recent years, was cited last year by Fitch Ratings as a company at high risk of defaulting.

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