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Report: Sears needs $4 billion to avoid 2016 collapse
Hoffman Estates, Ill. – A $400 million loan Eddie Lampert, the CEO and largest shareholder of Sears Holdings Corp., is making to Sears this month reportedly is only enough to last the struggling retailer for three months. According to Bloomberg, global ratings agency Fitch Ratings is projecting that Sears will need $4 billion in capital to avoid running out of cash altogether in 2016.
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GNC bolsters management team with new hires, promotion
GNC Holdings has appointed former Dick's Sporting Goods executive Jeffrey R. Hennion as EVP, chief marketing and e-commerce Officer, and former Office Depot executive Daisy Vanderlinde as chief human resource officer.
Additionally, Carl Seletz, GNC's SVP of international business development, will assume the additional responsibility of leading the company's domestic and international franchise operations.