New doubts about Sears' survival emerge

Sears Holdings Corp.'s revised internal forecasts are casting new doubts on the company's future.

When it declared bankruptcy Oct. 15, its budget forecast called for $241 million during the week of Christmas and $1.93 billion for the two months ending Jan. 12. That's been updated to $215 million for Christmas week and $1.69 billion for the two months.

“There’s no place in the world for a retailer who can’t produce cash flow during Christmas,” said Noel Hebert, a credit analyst who covers Sears for Bloomberg Intelligence. “It’s very difficult to envision a scenario where liquidation isn’t the end game.”

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