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Parent of Sears and Kmart Issues Warning as Its Losses Mount

Mar 22, 2017 - The New York Times

The corporate owner of Sears and Kmart said on Tuesday that there was “substantial doubt” that it could continue operating, as brick-and-mortar stores continue to face challenges in an e-commerce world.

In a filing with the Securities and Exchange Commission, the corporate owner, Sears Holdings Corporation, cited its efforts to cut costs, sell property, tap new funding sources and make other moves to stanch the flow of red ink. Still, it reported a $2.2 billion loss for last year and s...