We want to make a correction on a story we reported about Sears.
Crains Chicago Business is reporting that rising debt and dwindling cash flows threaten to make this the last Christmas season for Sears. The company faces a short term debt of $1.9 billion.
We incorrectly quoted Sears Chairman Edward Lampert as saying this could be the last holiday season for Sears. Lampert did not make the statement and it was Crains, not Lampert, who drew this conclusion.
Sears says it has more than adequate liquidity and currently expects to completely repay this short-term debt by the end of the month.
We regret the error.