Mar
23
With Sears' Demise Feared, Which Agencies Stand to Lose?
Posted in: Uncategorized
The end could finally be near for long-struggling Sears and Kmart. Sears Holding Corp., parent company of the two brands, issued a warning in its annual 10-K filing Tuesday evening that noted the chain could be in trouble with generating additional liquidity.
“Our historical operating results indicate substantial doubt exists related to the Company’s ability to continue as a going concern,” read the filing.
The news caps years of sales declines and losses, and, more recently, January’s announcement of the closures of 150 stores. Earlier this year, Sears sold its Craftsman tools brand to Stanley Black & Decker, ending decades of exclusivity.
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