SEARS TO CLOSE 72 MORE STORES
by Stephen Garner
May 31, 2018
This phase includes steps to enhance the company’s liquidity and financial flexibility, as well as a strategic restructuring program intended to streamline operations, and target cost reductions of at least $1 billion.
Read MoreThese actions aim to facilitate the transformation of Sears from a store-based, asset-intensive business model into a membership-focused, asset-light business model.
Read MoreThe letter of credit, which was provided by ESL Investments, provides the company with additional liquidity to fund its operations.
Read MoreSears Holdings Corporation has reported its revenues decreased $796 million to $7.3 billion for the fourth quarter of 2015, compared to revenues of $8.1 billion for the prior year fourth quarter.
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