Sears Holdings Borrows Another $100 Million
Eddie Lampert wants Sears Holdings' (NASDAQ: SHLD) vendors to know it has plenty of liquidity and will be paying all its bills this Christmas. The hedge fund operator and chairman of the retailer just agreed to loan Sears Holdings another $100 million.
It's clearly an attempt to calm supplier jitters ahead of the holiday season. Amid reports that vendors may be reluctant to help Sears and Kmart stock their shelves as insurance becomes more expensive to purchase, Lampert is trying to prevent them from bolting, which might force it into bankruptcy protection.
Image source: Sears Holdings.
Source: Fool.com