LOSERS
December 1st, 2012
BY MJ DESCHAMPS
Sears
North American department store chain Sears suffered a catastrophic 2012, starting with a January announcement that it planned to close as many as 120 stores after recording poor holiday sales. The same month, reports emerged that lender CIT Group had halted loans to the company's suppliers, and that Sears Canada was cutting 400 jobs across the country. In February, the announcement came that the retailer overall had suffered a full-year loss of USD3.1 billion, and more reports of layoffs across North America followed suit. With 2012 ...
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