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Sears, once the largest U.S. retailer, said that there is "substantial doubt" that it will be able to remain open, reports the AP. Company shares, which hit an all-time low last month, tumbled more than 5% in early trading Wednesday.

CEO Edward Lampert's hedge fund has sent millions in funding to try and keep Sears afloat, but the declining sales have brought the company into too deep a hole.

According to its most recent regulatory filing late Tuesday, Sears lost more than $2 billion last year.

Sears considers bankruptcy

The retailer has "substantial doubt" that it will be able to remain open.

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Sears, once the largest U.S. retailer, said that there is &quot;substantial doubt&quot; that it will be able to remain open, reports the AP. Company shares, which hit an all-time low last month, tumbled more than 5% in early trading Wednesday.CEO Edward Lampert&#x27;s hedge fund has sent millions in funding to try and keep Sears afloat, but the declining sales have brought the company into too deep a hole.According to its most recent regulatory filing late Tuesday, Sears lost more than $2 billion last year.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Sears considers bankruptcy

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