Headlines

Sears Obtains $500 Million Loan

Continues planning transformation

Published

8 years ago

April 11, 2016

Sears Holdings Corp. (Hoffman Estates, Ill.) has obtained a 15-month $500 million secured loan facility. Part of the loan was provided by ESL Investments (Bay Harbour, Fla.), a company controlled by chairman and ceo of Sears, Edward Lampert.

Retailing Today reports half of the loan was provided to the company Friday, April 8, with the remaining $250 million accessible in the future. The company announced plans to use the loan to continue transforming the brand, adjusting its capital structure and executing its strategic plans.

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