Comment on Sears has "substantial doubt" about its future

Sears has "substantial doubt" about its future

Millions of dollars have been funneled through the hedge fund of Chairman and CEO Edward Lampert to keep Sears afloat but with sales fading, it is burning through cash. According to a regulatory filing late Tuesday, Sears Holdings Corp. lost more than $2 billion last year. Sears, which employs 140,000 people, announced a major restructuring plan in February with hopes of cutting costs by $1 billion through the sale of more stores, jobs cuts and brand asset sales.

 

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