According to Reuters, Sears Holdings is in the final stages of negotiations with Great American Capital Partners and other lenders for $350 million in bankruptcy financing. The funds would be used to keep retail locations open through the upcoming holiday season.

Reuters said the financing would give Sears time to seek buyers for its assets.

Reuters added a U.S. bankruptcy judge will hear arguments for approving the loan on November 27.

Follow the story:
Sears to Sell Home Improvement Biz; Sidley Advising Stalking Horse Bidder
Sears Chairman Lampert Looking for Bankruptcy Financing Partners
Sears Files Chapter 11, BofA Provides $300MM DIP, Lampert Resigns as CEO