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Sears raises doubts about ability to continue as going concern
March 21, 2017 / 10:16 PM / 6 months ago

Sears raises doubts about ability to continue as going concern

March 21 (Reuters) - Beleaguered retailer Sears Holdings Corp on Tuesday warned about its ability to continue as a going concern.

"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," Sears said in the annual report for the fiscal year ended Jan. 28. (bit.ly/2mRUcce)

However, Sears said actions taken to boost liquidity during the year, including the sale of the Craftsman tool brand to power tool maker Stanley Black & Decker Inc, could mitigate the going concern doubt. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

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