When a business is going downhill, this is where the removing complaints from Google comes into place but when it comes to Sears Canada, that may be a different story. The way that this reputation management company can help is by simply helping company who have any negative results that are impacting their business and not by helping a business who is struggling since they simply aren’t make enough sales to survive.
Sears Canada said financial issues mean it may be forced to restructure of to be put up for sale. At this rate Sears Canada is mainly looking for a buyer since the company has been facing a tough retail market. The retailer has been trying to reinvent itself and said its ability to keep going is dependent on obtaining any additional sources of funding which it hasn’t been able to obtain. Their cash and forecasted cash flows from operations are not expected to be sufficient to meet obligations due over the next 12 months Sears Canada explains.
Sears Canada had hoped to tap into about 175$ million minus the transaction fees yet they have only been able to get 109$ million before fees from several different lenders. These conditions are what raise doubt for Sears and recently they had explained that they hired BMO Capital Markets as a financial adviser and Osler, Hoskin and Harcourt LLP as their legal adviser. The company is the latest retailer to report difficulties with their tough environment that has been a big push to online shopping. HBC just last week has explained that they eliminated 2,000 jobs due to their weak financial results.
Their sales have been dropping due to a signification reduction in printed catalogues due to lower customer demand, some products weren’t available online since Sears had been making technology changes and there had been a cut in the number of merchandise pickup locations. Hopefully Sears Canada can figure something out or get the cash flow that they need to survive and then maybe be able to rebrand their company.