Sears posts quarterly loss, taking debt from CEO's hedge fund

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Sears shuttering more stores

The above video is from April 2016, when Sears store closures were announced.

Aug 25 (Reuters) - Sears Holdings Corp posted a net loss due to lower sales of home appliances and apparel, and the company said it accepted debt financing of $300 million from Chief Executive Edward Lampert's hedge fund, ESL Investments.

The struggling retailer also said on Thursday it had received interest from potential partners for its home-improvement service business and some of its best-known brands, which it is exploring options for.

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TORONTO, ONTARIO, CANADA - 2016/03/08: Sears store entrance, is an American chain of department stores. Known for selling high quality clothing article from shoes to shirts. (Photo by Roberto Machado Noa/LightRocket via Getty Images)
Macy's Inc. signage is displayed at a department store in New York, U.S., on Monday, Feb. 22, 2016. Macy's Inc., the largest U.S. department-store company, is scheduled to report fourth-quarter 2015 earnings before the opening of U.S. financial markets on February 23. Photographer: Michael Nagle/Bloomberg via Getty Images
J.C. Penney Co. signage is displayed outside of a store at the Gateway Shopping Center in the Brooklyn borough of New York, U.S., on Saturday, Aug. 8, 2015. J.C. Penney Co. is scheduled to release earnings figures on Aug. 14. Photographer: Michael Nagle/Bloomberg via Getty Images
UNITED STATES - JUNE 09: Customers enter the Dillards department store at Parkdale Mall, in Beaumont, Texas, Wednesday morning, June 9, 2004. A judge declared a mistrial in a lawsuit brought against Dillard's Inc. by 17 black shoppers in Texas who claimed that security guards at the department store chain harassed them because of their race. (Photo by Scott Eslinger/Bloomberg via Getty Images)
MIAMI, FL - APRIL 19: A Nordstrom sign is seen outside a store on April 19, 2016 in Miami, Florida. Nordstrom on Monday said in a cost-cutting measure they are expecting to lay off 350 to 400 people. (Photo by Joe Raedle/Getty Images)
The sign outside the Kmart store is seen in Broomfield, Colorado November 19, 2009. Sears Holdings Corp posted a narrower-than-expected quarterly loss November 19, 2009, helped by the first increase in same-store sales at its Kmart unit in four years. REUTERS/Rick Wilking (UNITED STATES BUSINESS)
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The owner of the Sears department store and Kmart discount store chains reported a 5.2 percent drop in comparable store sales for the second quarter ended July 30.

The company posted a net loss attributable to shareholders of $395 million, or $3.70 per share, in the quarter, compared with a profit of $208 million, or $1.84 per share, a year earlier.

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