Sears cash burn saps sell-off plan

At current rate, retailer to exhaust funds in five months

Posted: May 29, 2013 at 3:19 a.m.

A customer secures a new washing machine purchased at a Sears Holdings Corp. store in the back of a pickup truck in Richmond, California, U.S., on Tuesday, Feb. 26, 2013. Photographer: David Paul Morris/Bloomberg

NEW YORK — Sears Holdings Corp., which reported a quarterly loss more than four times analysts’ estimates last week, will exhaust its cash within five months at its current burn rate, endangering a turnaround plan based on asset sales.

This story is only available from our archives.

Business, Pages 23 on 05/29/2013