Sears gets more time to repay lenders
Sears has won additional time to repay money borrowed from lenders.
According to the Chicago Tribune, Sears Holdings Corp. extended the maturity of two loans totaling about $320 million, originally due next month, to July 2020, spokesman Chris Brathwaite told the newspaper in an email.
The new agreement consolidated the two loans with a third existing loan. In total, Sears has about $779 million due in 2020, secured by 69 Sears-owned real estate properties, Sears disclosed Monday in a regulatory filing.
Read more about Sears' financial standing here.