Thursday, June 21, 2018

Debt Extension Isn’t Likely to Save Sears, Experts Say

NREI
Sears Holding Corp. continues to gasp for air. However, the struggling company just got some breathing room from creditors after receiving more time to refinance its debt.

In a June 4 Securities and Exchange Commission filing, Sears says it has two additional years to pay back its lenders, including Sears CEO Eddie Lampert. The company consolidated three loans, including two real estate loans, totaling $593 million, which were due next month. The new consolidated loan’s due date has been pushed out to July 20, 2020. . . . more