Sears Holdings (SHLD) Under Pressure As CIT (CIT) Cuts Off Loans to Suppliers
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Shares of Sears Holdings Corp. (Nasdaq: SHLD) are under heavy pressure early Thursday on reports from Bloomberg CIT Group (NYSE: CIT) is cutting off loans to Sears suppliers.
CIT is telling clients it would no longer approve credit for orders starting today, Bloomberg reported citing two people familiar with the matter.
Sears Holdings last traded at $29.80, down 9.4 percent.
CIT is telling clients it would no longer approve credit for orders starting today, Bloomberg reported citing two people familiar with the matter.
Sears Holdings last traded at $29.80, down 9.4 percent.
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