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