The turnaround at Sears Holdings Corp. has hit a bit of a speed bump. The Wall Street Journal reported that CIT Group CIT -0.14% , a large lender to the retailer, would not finance loans to suppliers waiting for Sears to pay them.
Sears told the Journal that CIT had financed only about 5% of its inventory, and “downplayed the decision,” the paper reported. A move like this can surely vex suppliers and it certainly seems to have investors concerned. Shares were down nearly 6% in morning trade….
Find out more at http://www.marketwatch.com/story/another-headache-for-sears-2012-01-12?mod=MWCommentaryandBlogs&mod=marketwatch
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