Final Cut April 2017

Sears Holdings’ annual report shared doubts that the company will be able 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 its annual report for the fiscal year ended January 28.

Once the largest U.S. retailer, Sears has spun off some of its stores into a real estate investment trust, sold some brands, like Craftsman tools and Lands End, and repeatedly raised debt from billionaire Chief Executive Edward Lampert’s hedge fund to cope with the slump.