Sears: Going Concern Warning
March 22nd, 2017Via: Bloomberg:
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.
Related: Payless Is Said to Be Filing for Bankruptcy as Soon as Next Week
