Posted on 09/14/2016 2:25:22 PM PDT by PROCON
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.
(Excerpt) Read more at businessinsider.com ...
Yes, I remember when I was much, much younger Paternal Mineral bought a Sears lawn mower. Never worked right. Made him very angry. Then we used a yard service. Even then they mowed the yard too short for Maternal Mineral. Used them until I got big enough to push a mower around.
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