NEW YORK/SAN FRANCISCO—Sears Holdings Corp won court approval on Nov. 27 for $350 million in critical bankruptcy financing that will keep the 125-year-old retailer operating through the holidays while it attempts to reorganize.
Sears reached the deal with Cyrus Capital Partners LP for the financing just before a hearing began in U.S. Bankruptcy Court for the Southern District of New York on the retailer’s so-called debtor-in-possession financing arrangements, according to a person familiar with the matter.
