Advertisement

CNBC: Sears Receives $100 Million Loan From Brigade Capital Management

Sears will receive another lifeline in the form of $100 million in financing from Brigade Capital Management, people familiar with the matter told CNBC. The funds will be added to capital that has been bankrolled by Sears owner Eddie Lampert in recent months, according to the sources.

Sears is one of several retailers that have received a second chance through Brigade. The firm was part of a group that loaned Barneys New York $218 million in August 2019, helping it remain operational during the bankruptcy process that resulted in a sale to Authentic Brands Group. Brigade also was one of the lenders that took control of Gymboree when it exited bankruptcy in October 2017.

Lampert rescued Sears from liquidation in early 2019 when he purchased the company for $5.2 billion, but the department store has been struggling to stay afloat. Recent actions such as selling the DieHard brand to Advance Auto Parts in December 2019 and closing 96 additional stores between November 2019 and this month have kept the company alive, but Sears hasn’t shown any signs of a true turnaround.

Advertisement

Featured Event

Join the Retail Trendcaster Webinar Series to uncover key 2025 retail trends, from AI and personalization to social commerce. Gain expert insights, data-driven predictions, and actionable takeaways to stay ahead in a rapidly evolving market.

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: