Daily News: September 22, 2014

Sears Needs 10 Times Lampert Loan to Survive

Bloomberg reported Eddie Lampert’s $400 million loan to Sears Holdings is enough to keep the retailer going for three months, but it will need 10 times that capital to survive beyond then.

According to Bloomberg , the retailer will run out of cash in 2016 without at least $4 billion of new capital, after accumulating more than $6 billion in losses over four years, according to Fitch Ratings.

To read the entire Bloomberg article, click here.