"Our historical operating results indicate substantial doubt exists related to the Company's ability to continue as a going concern," the company reported. The company says that it is taking steps to improve its financial position. However, "we cannot predict, with certainty, the outcome of our actions to generate liquidity, including the availability of additional debt financing, or whether such actions would generate the expected liquidity as currently planned," it said.

    Sears Holdings' CEO, Eddie Lampert, is a hedge fund manager who is also the company's biggest investor. He has been attempting to orchestrate a turnaround for the brand, which struggles to survive in a retail environment that has become increasingly tricky for physical stores.



snoodog:

Sears has survived to its intended goal. The lootting has been completed by the vulture firm and the company survived long enough to get past the statute of limitations on clawbacks. After that the bond holders will get shafted and the company dissolved. Liabilities far outstrip assets at this point RIP sears so debt holders will get nothing but crumbs.


posted by rd95: 64 days ago