Tuesday, October 23, 2018

Sears chairman Eddie Lampert is seeking a partner for a $300 million bankruptcy loan for the bankrupt retailer

Business Insider
Sears Holdings Corp Chairman Eddie Lampert is in discussions with at least one potential partner to contribute to a $300 million bankruptcy loan the U.S. retailer is seeking, people familiar with the matter said on Sunday.

Lampert's hedge fund, ESL Investments Inc, has held discussions with Cyrus Capital Partners LP, an investment firm that holds some of Sears' existing debt, about sharing the burden of funding portions of the $300 million loan, which would be separate from another $300 million bankruptcy loan that Sears' banks have offered to provide, the sources said.. . . more