HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » Sears stock closes at 34 ...

Fri Oct 12, 2018, 09:01 AM

Sears stock closes at 34 cents

Sears shares are being pummeled on a report that banks are pushing the 130-year-old retailer to liquidate. The report Thursday in The Wall Street Journal came one day after stock in Sears Holdings Corp. tumbled 30 percent.

Shares then tumbled an additional 30 percent Thursday to close at 34 cents.

Only a quarter of the 4,000 stores operating just six years ago still have the lights on and a significant debt repayment is looming. "The prognosis is gloomy, just as it has been for many years," said Neil Saunders, managing director of GlobalData Retail.

Word that lenders are pushing for liquidation, Saunders said, is a sign that Sears is a company with no inherent value and is "broken operationally as well as financially."
"At some point, the music has to stop," Saunders said. "We believe that time is now."

http://www.courant.com/breaking-news/ct-biz-sears-stock-slide-20181011-story.html

1 replies, 425 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Sears stock closes at 34 cents (Original post)
left-of-center2012 Oct 12 OP
Historic NY Oct 12 #1

Response to left-of-center2012 (Original post)

Fri Oct 12, 2018, 12:40 PM

1. Sad...

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread