(Hoffman Estates, IL) -- Sears will remain open throughout the holidays after the company got a 350-million-dollar loan.
A court approved the critical bankruptcy financing yesterday that will keep the struggling retailer operating through the holiday selling season while it attempts to reorganize. Sears filed for Chapter 11 bankruptcy protection in October and has since shuttered hundreds of Sears and Kmart stores across the country.
Reuters says the deal was struck with Cyprus Capital Partners and replaces a former agreement with Great American Capital Partners.
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