As other retailers around it go out of business or reorganize, Sears Holdings, parent company of Kmart and Sears, is still in business somehow. Why? Those other chains don’t have what SHC does: A massive base of stores that it owns and can sell, and a CEO able to lend the company a few hundred million here and there. [More]
breaking open the eddie bank
As Sales Continue To Drop, Sears Borrows $300 Million From Its Own CEO
By 8.25.16
As more shoppers go online — or turn to retailers that don’t feel like they’ve just given up — same-store sales at Sears and its corporate kin Kmart have continued to sink, leading the once-great department store chain to borrow $300 million from the hedge fund owned by none other than Sears Holdings CEO Eddie Lampert. [More]
