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Sears' survival is in doubt

New York (CNN Business)Sears has been in trouble for years, but the coronavirus pandemic could be the end.Covid-19 has decimated the already embattled department store sector. Stores have shut down across the globe, toppling some retailers into bankruptcy, including J.Crew, Neiman Marcus and JCPenney. Sears Holdings, which owned Sears and Kmart, went through bankruptcy less than two years ago. The company that emerged from bankruptcy came out with much less debt, but it is in a similarly weak position. Sears has flailed in the first year-plus since exiting bankruptcy. And that was before the crisis. "Sears is in a very dangerous position," said Neil Saunders, managing director at GlobalData Retail. "Before the crisis hit, the consumer econo ...
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