Sears is borrowing more money from its CEO, Eddie Lampert:
“The company said it recently borrowed $100 million and can borrow an additional $100 million from subsidiaries owned by Lampert’s fund, ESL Investments, between now and Dec. 1. Sears has so far borrowed $499.4 million through a real estate-backed loan dating back to January. The new $100 million requires Sears to put up additional properties or other assets as collateral.“
Supplier Takeaway: Will Sears Survive?
Will Sears and KMart survive? If the stores close, what will the impact on retail (and your business) be?