Daily News: October 22, 2018

Sears Chairman Lampert Looking for Bankruptcy Financing Partners


Reuters reported that Sears chairman Eddie Lampert is holding discussions with Cyrus Capital Partners to share the $300 million financing to support the company’s Chapter 11 effort.

According to Reuters, Cyrus is an investment firm that holds some of Sears’ existing debt. Reuters added the discussions revolve around sharing the burden of funding portions of the $300 million loan, which would be separate from another $300 million bankruptcy loan that Sears’ banks, including Wells Fargo, Citigroup and Bank of America, have offered to provide.