NEW YORK - Sears told Reuters on Thursday it had won a $250 million lifeline from lenders that include billionaire owner Eddie Lampert, and will close additional stores, as mounting losses strain the beleaguered U.S. department store chain’s finances.
Lampert, through his hedge fund ESL Investments Inc, has contributed a significant portion to the new financing, the people added. Starting in December, Sears will close 96 stores, leaving the retailer with 182 locations, the company said in a statement. That is down from 425 stores Lampert acquired when he rescued Sears from bankruptcy proceedings in a $5.2 billion deal earlier this year.
Lampert contributed less than half the total amount of the new Sears financing, the people said. Hedge-fund Cyrus Capital Partners LP is among the other lenders, Reuters has previously reported.
Sears: the store that will not die! A horror story.
I love Sears, always will❤
Let ‘em go- they’re past their prime ..
WHY? Let it go.
I am afraid that Sears and Kmart will not survive 2020 😢
Eddie Lampert is trying to make it worth nothing ---
250 million for CEO bonuses.
Look again..
Lambert just needs to accept the fact they're done and close sears.
Does anyone actually shop there?
Ne alışverişler yapmıştık bu amerijan devinden Yazık oldu... :( Çok güzel bir mağaza zinciriydi
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