In more recent years, Sears has struggled just to stay alive. It told investors last year that there was " substantial doubt " it could stay in business. Lampert's latest warning to the board raised a similar warning. He said it was in the best interest of creditors and shareholders to restructure the company "as a going concern." Sears has lost $11.7 billion since 2010, its last profitable year, and sales have plunged 60% in that time. It has fewer than 900 stores, down from a combined 3,500 US stores when Sears and Kmart merged in 2005. In July, the company closed the last Sears store in Chicago, its former hometown. And the company recently announced that 46 more stores will close just before the holiday shopping season.