Sears warns there's 'substantial doubt' about company's future

Crain's Chicago Business reports:

Sears Holdings Corp. acknowledged "substantial doubt" about its ability to keep operating, raising fresh concerns about a company that has lost more than $10 billion in recent years.

The retailer added so-called going-concern language to its latest annual report filing, suggesting that weak earnings have cast a pall on its future as a business.

"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," the Hoffman Estates, Illinois-based company said in the filing. But the company added that its comeback plan may help mitigate the concerns, "satisfying our estimated liquidity needs 12 months from the issuance of the financial statements."

More square footage is coming to market.