Edward Lampert’s new Sears has lined up an $800 million loan from a group of lenders led by investment firm HPS Investment Partners to keep its remaining stores up and running, the Wall Street Journal reported. The three-year loan will be backed by some of the new Sears’s stores. The new loan will refinance an existing loan and also provide new money to fund working capital and capital to refurbish the chain. Sears Holdings Corp., which owned Sears and Kmart, filed for bankruptcy in October and closed hundreds of stores. In February, a bankruptcy judge approved a plan to sell its best-performing stores and other assets to a new company controlled by Lampert.
