retail news in context, analysis with attitude

The New York Post reports that an attempt by Eddie Lampert to sell Sears Canada has been "a bust … an auction of a majority stake in the Canadian retailer failed to attract any acceptable bids in its latest round, eliminating a potential near-term cash infusion for Sears Holdings that could have exceeded $750 million."

Which apparently is why Lampert had to loan the company $400 million to get it through the holidays.

According to the story, "Sears burned nearly $1 billion in cash during the first half of the year, leaving it with just $863 million on its balance sheet for the Christmas season."
KC's View:
Dead company walking.