Sears Canada future as going concern in doubt says firm

Sears Canada has raised doubts about its ability to continue as a going concern, saying Tuesday that cash and estimated cash flows from operations were not expected to be enough to meet obligations over the next 12 months. The retailer also reported a 15.2 percent decline in first-quarter sales, continuing a trend of declining sales since it was spun off from parent Sears Holdings Corp in 2012. — Reuters