Crain's Chicago Business, March 10th, 2003
Byline: SANDRA JONES
Operational problems are turning into financial woes for Sears, Roebuck and Co.
Sears' inability to stem the long-term decline of its stores and to cap rising delinquencies in its credit card portfolio has begun to erode the financial underpinnings of the Hoffman Estates-based company.
Sears' debt is rising. Its credit ratings are falling. Lenders are requiring the company to pay more to borrow money. Cash flow is under pressure. And $4.7 billion in debt comes due this year.
To gauge just how tough it's gotten at Sears, look no further than the company's latest bank ...
HighBeam Research, Free Preview: 'Sears' finances show soft side.(News)(Sears Roebuck and Co.)(Company Profile)'... Full Membership required for unlimited access. Free 7-day trial.
Subscribers: HighBeam content is only available to HighBeam subscribers. Click the link above for more information.
