ML-Implode News - Sears Admits It Has 'Substantial Doubt' About Its Ability To Survive

Sears warned investors that it can't be sure that it will secure the liquidity it needs to keep its doors open. If it continues to experience losses it may not be able to access additional funds underÂ its credit agreement, according to the filing.
SearsÂ lost $2.2 billion in its latest fiscal year and hasn't turned an annual profit since 2010. Meanwhile, its liabilities have mounted to $13.2 billon...
Billionaire hedge fund manager Eddie Lampert took control of Sears in 2004 and said he would turn the company around by closing under-performing stores and focusing on profitability. Instead, Lampert's hedge fund has found itself repeatedly lending the company money to keep it alive.

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Sears Admits It Has 'Substantial Doubt' About Its Ability To Survive