The big-box chain’s sales have steadily declined, and the company’s leadership acknowledged in Sears’ 2016 annual report that “substantial doubt exists related to the company’s ability to continue as a going concern.”
The company has closed stores to cut costs and looked for buyers for its product brands, including Craftsman, which sold to Stanley Black & Decker in March. Those changes are all part of Lampert’s efforts to lead the company’s turnaround.
