Sears to Take More Debt From CEO’s Hedge Fund, Posts Loss

(Reuters) Struggling retailer Sears Holdings Corp (SHLD.O) posted a quarterly net loss, and the company said it accepted additional debt financing of $300 million from billionaire Chief Executive Edward Lampert’s hedge fund.

The company had said in April that it had obtained a $500 million loan to fund a transformation and Lampert’s hedge fund, ESL Investments, had provided $125 million of the initial $250 million.

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