Edward Lampert’s new Sears has lined up an $800 million loan from a group of lenders led by investment firm HPS Investment Partners to keep its remaining stores up and running, according to people familiar with the matter. The three-year loan will be backed by some of the new Sears’s stores, the people said. The new loan will refinance an existing loan and also provide new money to fund working capital and capital to refurbish the chain, the people also said.

Source: Wall Street Journal May 01, 2019 22:41 UTC