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Sears talks with banks for emergency funding as retailer faces cash crunch
Edward Lampert, the hedge-fund manager who controls Sears Holdings Corp., has repeatedly bailed out the struggling retailer with short-term loans. Now, he is cutting the cord.
Mr. Lampert, who is Sears’s chairman, chief executive, largest shareholder and biggest creditor, doesn’t plan to lend the company money to repay $134 million in debt due Monday, according to people familiar with the matter.