The corporate owner of Sears and Kmart said on Tuesday that there was “substantial doubt” that it could continue as a going concern, as bricks-and-mortar stores continue to face challenges in an e-commerce world, the New York Times reported today. In a filing with the Securities and Exchange Commission, the corporate owner, Sears Holdings Corporation, cited its efforts to cut costs, sell property, tap new funding sources and make other moves to stanch the flow of red ink. Still, it reported a $2.2 billion loss for last year and said that it had to use money from its investments and financing activities to fund operations. “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” it said in the filing, its annual report.
