Sears ‘Disagrees’ With Report Of Its Imminent Demise

Business Insider believes the embattled department store Sears and its struggling discount chain Kmart may be facing their imminent demise. Sears spokesman Howard Riefs begs to differ. “We disagree with the opinions stated in the Business Insider report,” he told Forbes. The story cited a note from Moody’s Investor Service downgrading Sears’ liquidity rating. “We continue to have a sizable asset base as indicated in the Moody’s release, and we are focused on returning the company to profitability,” said Riefs, who could not offer a time frame as to when that might happen. When pressed about whether or not Sears and/or Kmart, which have posted over a decade of sales declines, are at imminent risk of shutting down, Riefs repeated, “We disagree with the opinions stated in the Business Insider report.” Read more at Forbes.