Wednesday, November 8, 2017

Sears Holdings same-store sales to drop 15.3% as company looks for more cash

A Sears store in Peoria, Ill.Sears Holdings announced Wednesday a number of steps it's taking to gain liquidity as its sales continue to erode at a double-digit pace.

Sears struck an agreement with insurers of its underfunded pension fund — Pension Benefit Guaranty Corp. — to allow for the sale of 140 Sears properties, though the company didn't say when those sales will take place. In exchange, Sears said it paid $407 million to the plan.. . . more

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