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Sears Tries Again For Cash As Lenders Balk On Loan Deal

by bloombergquint.com posted 8months ago 28 views
(Bloomberg) -- Prospective lenders to Sears Holdings Corp. have so far rejected Chairman Eddie Lampert’s appeals to help fund a loan and stave off liquidation. Now the company is trying new tactics to attract financing. A Sears lawyer told a judge Thursday that the department-store chain was reviewing alternative structures for a proposed $300 million bankruptcy loan intended to keep stores open during the holidays. Lampert’s ESL Investments Inc. has been in talks to provide at least some of the money along with hedge fund Cyrus Capital Partners.

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