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Sears raises $100 million in funding, in talks with lenders for better debt terms


(Reuters) - Struggling retailer Sears Holding Corp said on Wednesday it raised $100 million in funding and was in talks with lenders to improve the terms on its more than $1 billion of non-first lien debt, sending its shares up 5 percent in premarket trading.The company said the new loan was backed by land leases and select intellectual property and would be entitled to raise a further $200 million with the consent of the lender.Sears also said comparable-store sales during November and December fell as much as 17 percent, as shoppers continued to stay away from the embattled retailer's ...

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First Published: Wed, January 10 2018. 18:07 IST