Sears Holdings Corp. is trimming its revenue forecasts for the holiday selling season and for the next two months, according to a report.
Bloomberg reported that Sears trimmed its original revenue forecasts made after it declared bankruptcy on Oct. 15 of $241 million for the week of Christmas and $1.93 billion for the two months ending Jan. 12 to $215 million the week of Christmas and $1.69 billion for the entire two months, which is a shortfall of $240 million, or about 12.5 percent.
The reduced revenue forecasts, according to Bloomberg, cast "new doubt on whether the bankrupt retailer can avoid liquidation."
The reduced revenue forecasts didn't dismay Sears Holdings chairman Eddie Lampert and his ESL hedge fund, which made a $4.6 billion bid for Sears.
Read more at the Denver Business Journal: https://bit.ly/2Qq29Is
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