Sears Canada flags 'going concern' doubts, explores sale: Reuters

U.S. hedge fund manager Eddie Lampert-controlled Sears Canada Inc flagged doubts about its ability to continue as a going concern and said it was exploring strategic options, including a sale of the company, following years of losses and falling sales, Reuters reported. Sears Canada's shares slumped as much as 56 percent to 50 Canadian cents in early trading, as investors fretted about whether the company would be able to weather this liquidity crisis before it found a buyer. The company was valued at about $51 million (US$38.5 million) at its lowest stock price on Tuesday, a far cry from the $1.18 billion valuation when it was partially spun off from Sears Holdings Corp in 2012.

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