Sears raises doubts about ability to continue as going concern


Beleaguered retailer Sears Holdings Corp on Tuesday warned about its ability 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 the annual report for the fiscal year ended Jan. 28. (

However, Sears said actions taken to boost liquidity during the year, including the sale of the Craftsman tool brand to power tool maker Stanley Black & Decker Inc , could mitigate the going concern doubt.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)