Sears gets a financial bump as it closes stores and sells its iconic brands

Andy Uhler Dec 29, 2016
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Banners hang from Sears' flagship store in the Loop on Jan. 22, 2014 in Chicago, Ill. Scott Olson/Getty Images

Sears gets a financial bump as it closes stores and sells its iconic brands

Andy Uhler Dec 29, 2016
Banners hang from Sears' flagship store in the Loop on Jan. 22, 2014 in Chicago, Ill. Scott Olson/Getty Images
HTML EMBED:
COPY

Sears hasn’t had a lot of good news to share lately. But yesterday, after announcing it would be closing about 30 Sears and Kmart locations, the struggling retailer also announced it got a new $200 million line of credit that will help it stay afloat. If you read a little closer, though, you’ll see the investor is from its major shareholder, who likely wants to keep stores open while selling off the company’s assets.

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