On Wednesday the company said it would shutter 150 more stores — 109 Kmart locations and 41 Sears sites — to help stem its losses. That’s on top of the more than 200 stores it was already on track to shutter before the end of the current fiscal year this month. On Wednesday, Sears also inked a deal with affiliates of Lampert’s hedge fund ESL Investments — Lampert is chairman of both Sears and ESL, and there is a Sears board subcommittee on related party transactions working with outside advisers on the transactions — for a $500 million real estate-backed loan. A week ago, the ailing company signed another deal with ESL affiliates for standby letters of credit for up to $500 million.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)