Shares of Amazon dropped by the most in four years on Friday after its outlook for holiday season sales missed targets, fanning concerns that Wall Street’s tech darlings are finally starting to face stronger competition.
Two Sears Holdings Corp board directors have hired investment bank Evercore to scrutinize deals that were led by former Sears Chief Executive Eddie Lampert with the retailer before it filed for bankruptcy protection.
Sears' Chairman Eddie Lampert is in discussions with at least one potential partner to contribute to a $300 million bankruptcy loan the U.S. retailer is seeking, people familiar with the matter said on Sunday.
U.S. footwear and apparel company Nine West Holdings Inc filed an amended Chapter 11 bankruptcy plan that will reduce its pre-bankruptcy debt obligations by more than $1 billion, the company said on Wednesday.
Eddie Lampert has stepped in to contribute towards a financing package of between $500 million and $600 million that the U.S. retailer was close to securing on Sunday to fund operations during bankruptcy proceedings.
Sears Holdings CEO Eddie Lampert is exploring a bid for some of the U.S. retailer's businesses and real estate once it files for bankruptcy, an alternative to a traditional court-supervised reorganization.