Photo; Reuters, Shannon Stapleton
Photo; Reuters, Shannon Stapleton
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Sears shares plummet on company comments

Acknowledgement of “serious doubts” increases default concerns

March 22, 2017 10:14 PM (UTC+8)

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.