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Sears Reports “Substantial Doubt” About Future of Company

Walker Evans Walker Evans Sears Reports “Substantial Doubt” About Future of Company
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In January, The Sears Holdings Corporation announced that it would be closing 150 Sears and Kmart stores across the U.S., including three locations in Central Ohio. Today, it’s been revealed that the company could be closing more, or even all of its stores in the near future.

“Our historical operating results indicate substantial doubt exists related to the Company’s ability to continue as a going concern,” stated the company in its newly released annual report.

Currently, Sears operates a dozen Central Ohio retail stores, auto centers and appliance outlets. There is only one regional Kmart store remaining, located on Stringtown Road in Grove City. Collectively, The Sears Holdings Corporation employs 140,000 full and part time associates and operates over 1,400 retail locations.

Other traditional retailers that have closed locations in 2017 include RadioShack, hhgregg, J.C. Penney, Wet Seal, American Apparel, The Limited and Macy’s.

RELATED: The New Math for Mall Retailers

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