Insider Trading at Sears Holdings Corp?

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In its annual report, filed Tuesday, Sears said that "historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern".

In Canada, Sears operates separately from its USA parent but is still controlled by hedge fund manager Edward Lampert, who is chairman and chief executive officer of the US chain.

Lampert, a hedge fund manager who is also Sears's biggest investor, aims to reduce debt and pension obligations by $1.5 billion. Similarly, its revenue of $310.43 million came in above expectations by $12.01 million.

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The most recent statement from Sears is another sign of the brutal restructuring of traditional retail companies. The company traces its origins to 1886, when Minnesota railroad station agent Richard Sears bought an unwanted shipment of watches, then sold them "at a nice profit", according to the company's website. Its Sears Domestic segment's operations consist of full-line stores, specialty stores, commercial sales and home services.

The agreement "contains certain limitations on our ability to sell assets", the company said. "As we move towards the last quarter, I think we'll find there are more and more suppliers that are not necessarily willing to engage with Sears" and will demand cash up-front. He pledged to return Sears to greatness, leveraging its best-known brands and its vast holdings of land, and more recently planned to entice customers with its loyalty program.

Sears has disclosed it may not be able to continue as a going concern despite a turnaround effort that has included selling stores and moving to a membership-focused business model. "Sometimes multiple retailers to take those large spaces", Bell said.

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"I think the mall developers watch trends, they attend trade shows, they read a lot", he said. Sears also sold Craftsman tools to Stanley Black & Decker as it raise enough money to remain viable.

Lampert owned almost 10 percent of the REIT that paid Sears $2.6 billion in 2015 for stores that it purchased, many of which were then leased back to the retailer.

Since 2012, Sears' annual revenue has fallen 47 percent to $22.1 billion, and the company has posted $10.54 billion in losses, including $2.22 billion in the year ended January 28.

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"However, we can not predict, with certainty, the outcome of our actions to generate liquidity, including the availability of additional debt financing, or whether such actions would generate the expected liquidity as now planned", the document added.

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