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Sears raises $100 million in new funding, sees smaller fourth quarter loss


By Vibhuti Sharma and Siddharth Cavale(Reuters) - Sears Holding Corp forecast a smaller fourth-quarter loss and said it received $100 million in new funding as it tries to shore up cash to stay afloat after years of losses.The company, which at one time was the largest U.S. retailer, has been saddled with $3.3 billion in debt and is trying to boost liquidity after warning last March that it had doubts it could continue as a going concern.The cash injection and the forecast sent the company's shares up 3.5 percent on Wednesday as investors ignored a steep slump in sales during the holiday ...

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First Published: Wed, January 10 2018. 23:41 IST