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"This new standby letter of credit facility further demonstrates that Sears Holdings has numerous options to finance our business strategy." What does Sears Holdings do next?While its CFO says Sears has numerous options to fund its turnaround, in reality the best move to pay its debt would be to sell off all or some of its Kenmore, Craftsman, and Die Hard brands as well as its Home Services installation and repair businesses.
Instead, comparable-store sales suffered a 7.4% decline, accounting for 4 million of the revenue drop."I go to other stores, but I always come back here.It's always full of what I need." Once an essential part of life for American consumers like Romero, the 123-year-old icon for a graying generation is sinking.The struggling retailer said it has received loan, called a secured letter of credit, for 0 million, with an option to expand the amount to as much as 0 million with the consent of lenders.Affiliates of ESL Investments Inc., the hedge firm run by Lampert, is providing the funding through Citigroup Inc.