Bloomberg: CIT Said to Approve Financing for Sears’ Vendors
Bloomberg reported that Sears advanced in New York trading following a report that CIT will approve financing for the retailer’s vendors.
The article said CIT is looking for more detailed information on Sears’ financing and may require letters of credit for all orders, citing a Women’s Wear Daily report that noted unidentified people familiar with the plan.
To read the full Bloomberg article, click here.
Previously on abfjournal.com: