Sears gets a financial bump as it closes stores and sells its iconic brands
Share Now on:
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.
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.