HOFFMAN ESTATES (dpa-AFX) - Shares of Sears Holdings (SHLD) are seeing significant weakness in late-day trading on Wednesday, plunging by 13.4 percent. With the drop, Sears has fallen to a record intraday low.
The sell-off by Sears comes as CEO Eddie Lampert's letter offering to acquire the retailer's Kenmore appliances business for $400 million has raised concerns the company is facing a near-term cash crunch.
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