Exclusive: Sears says it has secured a $250 million lifeline, will close 96 stores

NEW YORK (Reuters) - 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.

The new loan, put together in recent weeks, increases by roughly $100 million the $150 million of financing that Sears raised several weeks ago, said people familiar with the transaction, who were not authorized to discuss publicly some aspects of the deal...

   ...more

RSK: I think the name is part of the problem. If they changed the branding somewhat they may make it. Need to get the Millennials on board.

Ken Notes: I am blown away by the fact that the company that had it all is now failing in a market where they should be king. I would think Amazon would buy them just to use the brick and mortar as distribution centers.



- - Volume: 7 - WEEK: 46 Date: 11/12/2019 9:22:16 AM -