Sears has reached a deal for a new financial lifeline totaling roughly $100 million from hedge fund Brigade Capital Management LP as it tries to stabilize after bankruptcy, people familiar with the matter said Thursday.
Sears' billionaire owner Eddie Lampert rescued the retailer from liquidation in a $5.2 billion takeover during bankruptcy proceedings a year ago. The company's unabated need for new funding underscores Lampert's challenges in turning it around.. . . more