Sears gets more financing from Eddie Lampert
ESL Investments, the fund of Sears Holding Corp. chairman and CEO Eddie Lampert has come to the retailer’s aid again.
Sears has secured loans totaling $210 million through ESL Investments and other parties. In early January, Sears said that it was in talks with select lenders to amend the terms on more than $1 billion of non-first-lien debt, to reduce the interest expense and extend maturities.
On Wednesday, Sears laid off 220 employees, with most of the layoffs occurring at the company's corporate headquarters in Hoffman Estates, Illinois.
Sears has secured loans totaling $210 million through ESL Investments and other parties. In early January, Sears said that it was in talks with select lenders to amend the terms on more than $1 billion of non-first-lien debt, to reduce the interest expense and extend maturities.
On Wednesday, Sears laid off 220 employees, with most of the layoffs occurring at the company's corporate headquarters in Hoffman Estates, Illinois.