YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Sears Holdings CEO Edward Lampert is distributing another loan to the company.
In the latest round, Sears borrowed $100 million from ESL Investments, Lampert’s hedge fund. The fund agreed to lend another $100 million by Dec. 1.
In January, Sears reached an agreement to access up to $500 million backed by mortgages on 61 Sears properties. The company already borrowed all of that, but repaid $100.5 million after selling real estate. That action freed the company to receive the new $100 million loan.
Read more from the Chicago Tribune.
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