US department store chain Sears secures US$250m loan to fund operations, plans to close 96 more stores to cut costs

US department store chain Sears secures US$250m loan to fund operations, plans to close 96 more stores to cut costs

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UNITED STATES– US department store chain, Sears has secured a US$250 million loan from lenders including billionaire owner Eddie Lampert to enable it to fund its operations.  The retail store chain that has been accumulating losses for a while now also revealed…

Authentic, B. Riley’s US$271m buyout offer saves U.S. luxury department-store Barneys from winding down

Authentic, B. Riley’s US$271m buyout offer saves U.S. luxury department-store Barneys from winding down

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USA – U.S. luxury department-store chain Barneys New York Inc has reached an agreement to sell its assets to brand developer Authentic Brands Group and investment bank B. Riley Financial Inc, a court document showed. The deal which is estimated to be…