News

Sears and Kmart might not have enough money to stock their shelves – Here’s why department stores aren’t cutting it

March 22, 2017 /

MATR Sponsor (view all)

"For small to medium to national organizations, for events and fundraisers of any size, in any format – live, virtual or hybrid – the platform is built for scale."

The company that operates Sears, the department store chain that dominated retail for decades, warned Tuesday that it faces "substantial doubt" about its ability to stay in business unless it can borrow more and tap cash from more of its assets.

"Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern," Sears Holdings said in a filing with the Securities and Exchange Commission. Sears Holdings operates both Sears and Kmart stores.

While it said it is working to find ways to mitigate that doubt, it said that it can’t be sure that it will be able to raise the cash to keep going.

Chris Woodyard , USA TODAY

Full Story: http://www.usatoday.com/story/money/business/2017/03/21/sears-says-substantial-doubt-can-stay-business/99479726/

***

To understand why shoppers aren’t frequenting JCPenney, consider the alternatives.

Charisse Jones , USA TODAY

Full Story: http://www.usatoday.com/story/money/2017/02/24/despite-new-closures-shoppers-wont-give-up-stores/98362196/