Headlines

Sears Borrows from Ceo’s Hedge Fund

Lampert gives $200 million credit line

Published

7 years ago

July 18, 2017

amccorq

Sears Holdings Corp. (Hoffman Estates, Ill.) has accepted a $200 million credit line from CEO Eddie Lampert’s hedge fund, ESL Investments (Greenwich, Conn.).

Sears has received more than $1.6 billion over two years from Lampert and his hedge fund, reports Business Insider.

"This adjustment to our capital structure demonstrates that Sears Holdings will continue to take actions to generate liquidity and manage our business while meeting all of our financial obligations,” said Rob Riecker, cfo of Sears.

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