CML Group’s Losses May Fold Company

CML Group Inc., maker of NordicTrack fitness equipment, said its independent auditors are expected to say they’re not certain the company will be able to continue as a going concern amid continued losses. The company, which also makes Smith & Hawken garden supplies, said it plans to request a 15-day extension from the Securities and Exchange Commission in the filing of the company’s annual report for the fiscal year ended July 31. The Acton, Mass.-based company reported a fourth-quarter net loss of $25million, or 49 cents a share, compared with a year-earlier loss of $12.8million, or 26 cents a share, because of losses in its fitness equipment business. Sales fell 24% to $47.5million. CML said it’s in discussions with unnamed lenders to get continued financing for its Smith & Hawken retail store expansion.