Seritage Q1 net loss widens to $31.3M; going concern doubt flagged

Seritage Growth Properties

2026-Q1 EPS reported -$0.56 revenue$2,050,000

Net loss per share ($0.56) vs ($0.42) in Q1 2025; impairments total $20.4M.
Cash on hand $58.8M at March 31, 2026; $50M term loan matures July 31, 2026.
CEO says advancing debt refinancing and exploring strategic transaction/sale.
Subsequent to Q1, sold one asset for $11.0M gross proceeds; no further closings probable.

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