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Sears and K-Mart in trouble
Topic Started: Sep 17 2016, 04:52 AM (110 Views)
George K
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Finally
http://www.businessinsider.com/moodys-report-sears-and-kmart-2016-9
Quote:
 
Moody's analysts say Sears and Kmart don't have enough money — or access to money — to stay in business.

In a note published Wednesday, the analysts downgraded Sears' liquidity rating, saying the company is bleeding cash and will have to continue to rely on outside funding or the sale of assets, such as real estate, to sustain operations.

"We recognize the risks associated with relying on these sources and continued shareholder support to finance its negative operating cash flow which is estimated by Moody's to be approximately $1.5 billion this year," the analysts wrote.

Kmart in particular is at risk of shutting down, according to Moody's.

"The ratings... reflect our view on the uncertainty of the viability of the Kmart franchise in particular given its meaningful market share erosion," the analysts wrote.

Sears said in August that its cash and equivalents have fallen to $276 million from $1.8 billion one year ago.
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"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

I'd rather listen to an hour of Abba than an hour of The Beatles.
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Larry
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Mmmmmmm, pie!
Kmart just recently closed a whole bunch of stores. Sounds like they'll be closing a whole bunch more...
Of the Pokatwat Tribe

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Mikhailoh
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If you want trouble, find yourself a redhead
Brands that did not retain their cache. Haven't for 30 years.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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George K
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Finally
Mikhailoh
Sep 17 2016, 05:19 AM
Brands that did not retain their cache.
Cachet. They did not lose their cache, they lost their cachet.*









*that was me, being sarky snarky
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

I'd rather listen to an hour of Abba than an hour of The Beatles.
- Klaus, 4/29/18
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Mikhailoh
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If you want trouble, find yourself a redhead
I think 'sarky' is a new meme. :lol2:
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Larry
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Mmmmmmm, pie!
Can't believe I redd that...
Of the Pokatwat Tribe

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