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Sears Reports A MASSIVE $2.4 Billion 4th Quarter Loss

Filed under: Business Blitz

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Ouch.

The bad news just keeps on coming for Sears.

On top of closing more than 100 stores, the failing department store reported a $2.4 BILLION loss in the fourth quarter.

Chief Executive Lou D'Ambrosio announced they plan to raise roughly $1 billion by selling 11 stores to General Growth Properties Inc., reducing inventory and spinoff their Hometown outlets through a rights offering.

However, that's not good enough

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