Bank of America Merrill Lynch Named as Top Supplier for Sears Holdings
Bank of America Merrill Lynch Named as Top Supplier for Sears Holdings
Sears Holdings Recognizes Top Suppliers as True Partners in Transformation
NEW YORK--(BUSINESS WIRE)-- Bank of America Merrill Lynch today announced it was named a 2013 Partner in Transformation for Sears Holdings Corporation. BofA Merrill received the award for "outstanding partnership" in managing the credit facility that supported the separation of Sears Hometown and Outlet Stores, Inc. from Sears Holdings. The designation also recognized the bank's leadership in providing Sears with card and payments solutions, including last year's implementation of ePayables. The award was recently presented by Sears Holdings at the company's 2013 Vendor Summit.
Sears Holdings presented the prestigious Partners in Transformation award to a select group of supplier companies that excel in supporting the transformation of Sears Holdings through innovation around the Shop Your WaySM program, core retail excellence, and financial and operational discipline. Of the more than 30,000 suppliers that work with Sears Holdings, less than one half of one percent had the privilege of receiving this award.
"The Partners in Transformation award recognizes our top-performing suppliers as true partners that support our transformation in becoming a leader in integrated retail," said Edward S. Lampert, Sears Holdings' chairman and chief executive officer. "They provide the quality products, services and experiences that exceed the expectations of our Shop Your Way members, and enable us to build successful, meaningful relationships with them. Through our continued collaboration, we will be able to more effectively leverage the breadth of our portfolio and the power of our brands to meet our members' and customers' needs."
The Partners in Transformation recipients were selected from nominations that were submitted by those Sears Holdings' associates responsible for purchasing decisions.
"At Bank of America Merrill Lynch, we strive to provide our clients with not only the best products but also the advisory expertise that will help them choose the right financial solutions to complement their strategic objectives, whether that be financing corporate transitions or implementing programs that help unlock their working capital. We are honored to be recognized by Sears Holdings and we are committed to maintaining a level of excellence across all our businesses," said Paul M. Donofrio, head of Global Corporate Credit and Transaction Banking.
Bank of America Merrill Lynch is a leader in global credit markets, providing innovative financing solutions to clients all over the world. Our award-winning platform helps clients access liquidity, manage risk and maximize value across the broad credit universe.
The Commercial Card group, which worked with Sears Holdings on the card programs, provides card and payment solutions to large and middle-market companies, globally. Along with Purchasing Card and Travel and Expense Card programs, the ePayables solution helps companies further their transition from paper to electronic payments, which has the benefit of improving visibility, managing available funds in real time, reducing risk, and reducing the cost associated with check payments.
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