Sears Canada raises 'going concern' doubts
(Corrects paragraph 2 to say Sears Canada was spun off from Sears Holdings in 2012, not 2013)
June 13 (Reuters) - Sears Canada Inc on Tuesday raised doubts about its ability to continue as a going concern, saying cash and estimated cash flows from operations were not expected to be enough to meet obligations over the next 12 months.
The retailer also reported a 15.2 percent decline in first-quarter sales, continuing a trend of declining sales since it was spun off from parent Sears Holdings Corp in 2012.
Sears Holdings has a nearly 12 percent stake in Sears Canada. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)