Sears shares plummet on company comments
Acknowledgement of “serious doubts” increases default concerns
Shares of US retailer Sears saw their biggest decline in six weeks after the company admitted to having “serious doubts” about the future. Bloomberg reports that the company’s latest annual report suggested weak earnings could threaten the firm’s ability to keep operating. Fitch Ratings said last year that, what was once the world’s largest retailer, is at a high risk of defaulting.