Sears is reportedly betting on a lifeline from its controversial former CEO to keep it from liquidating in the next few weeks (SHLD)
|10/19/2018||Posted by BusinessMediaguide.Com under General World News||
- Sears is about to find itself in a dire cash situation, according to court filings reported by Bloomberg.
- The company is relying on a $300 million bailout from former CEO Eddie Lampert. Without this, it could be forced to liquidate in as soon as two weeks from now.
- The department store has been closing stores and losing money for years. It has stayed afloat thanks to Lampert bailing it out with billions of dollars in loans through his hedge fund, ESL Investments.
Sears’ turnaround effort is looking even more difficult than expected.
According to court filings reported by <a target="_blank" read more >>>