Sears, Kmart owner: There's 'substantial doubt' about company survival

The parent company of Sears, once the nation's largest retailer, issued a somber warning Tuesday about its survival.

According to USA Today, Sears Holdings, which also owns Kmart, broke the news in an annual report filed with the Security and Exchange Commission.

Explore>> Read more trending news

"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," the company said.

According to The New York Times, Sears Holdings lost $2.2 billion last year. Sears reported a 9.3 percent decline in sales, while Kmart's sales dropped 7.4 percent, Fortune reported.

Earlier this year, Sears Holdings said it would shutter 150 Sears and Kmart stores in 40 states.

Explore>> Which Sears, Kmart stores will be closing? Here's a list

Atlanta’s short-term rentals are starting to fill up for the World Cup

Airbnb is predicting about 6,000 guests will stay with Atlanta hosts during the World Cup, representing about 45,000 guest nights.

Paramount makes hostile bid for Warner Bros., including CNN, Turner networks

Days after Netflix announced its plans to acquire the storied Hollywood institution’s studio and streaming businesses, Paramount has launched an all-cash offer.

Medical company announces expansion in Columbus with 480 jobs

A medical logistics company that makes health care kits announced an expansion plan for its Columbus operations, which will add 480 new jobs to the region.

The Latest