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Great American Capital Partners Joins Expansion of Sears Bankruptcy Financing

November 15, 2018, 09:00 AM
Filed Under: Retail

Great American Capital Partners has joined a group of lenders to add $350 million in new financing for Sears Holdings in an effort to bring the struggling retailer through the holiday season.

According to press reports citing sources close to the deal, Sears chose to work with Great American over a separate offer from hedge funds led by Cyrus Capital Partners LP. The extra capital will bring Sears' total bankruptcy financing $650 million. 

A hearing on the matter is scheduled before a U.S. bankruptcy judge on Nov. 27, and is likely to include approval for an eventual asset sale, Reuters reports. 


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