Suppliers to Sears Holdings told Reuters they are doubling down on defensive measures, such as reducing shipments and asking for better payment terms, to protect against the risk of nonpayment as the company warned about its finances.
The company’s disclosure turned the focus to its vendors as tension is expected to mount ahead of the key fourth-quarter selling season amid rising concern about a potential bankruptcy, they said.
The storied American retailer, whose roots date back to 1886, said on Tuesday that “substantial doubt exists related to the company’s ability to continue as a going concern.”
The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!