Sears Canada warns about financial future and possible sale – CBC

Sears Canada warned Tuesday there are doubts about its ability to continue operating, and says it may have to restructure or be sold.

The retailer, which has been trying to reinvent itself, said its ability to keep going is dependent on obtaining additional sources of funding, which it hasn’t been able to do.

“Based on management’s current assessment, cash and forecasted cash flows from operations are not expected to be sufficient to meet obligations due over the next 12 months,” the company said.