Eddie Lampert may further bankroll struggling Sears with as much as $500 million
December 30, 2016
With prognostications of Sears’ imminent demise rampant in the industry, the company’s CEO and biggest stakeholder, Eddie Lampert, will deepen his commitment. According to filings, Mr. Lampert is setting up to offer a $200 million letter of credit to the chain by way of his firm, ESL Investments and, with the consent of lenders, could increase that to as much as $500 million.
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