By  on January 10, 2018

Edward S. Lampert, chairman and chief executive officer of Sears Holding Corp., is not giving up.

The company on Wednesday morning disclosed a new liquidity plan that includes plans for a $300 million raise in new financing. The troubled retailer, which includes the Sears and Kmart nameplates, has raised $100 million and is seeking to raise another $200 million. The plan also includes cost reductions of $200 million on an annualized basis in 2018 that does not include savings from store closures. The company last week said it plans to shutter 103 locations between February and March. It also intends to continue its evaluation of store productivity, which means Sears Holdings would probably close additional doors where necessary.

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