Sears Holdings has reportedly secured court approval to tap an additional $350 million in emergency financing to support the storied but struggling retailer through the holiday shopping season. According to a report from CNBC, a bankruptcy judge approved a $350 million loan from Cyrus Capital Partners, replacing a similar agreement the retailer had reached earlier this month with a group of lenders including Great American Capital Partners.

Sears Holdings filed for Chapter 11 in October, with commitments for $300 million in senior priming debtor-in-possession (DIP) financing from its senior secured asset-based revolving lenders and is negotiating a $300 million subordinated DIP financing with ESL Investments, Inc. (ESL). ESL is the Company's largest stockholder and creditor, and Edward S. Lampert is ESL's Chairman and Chief Executive Officer. Subject to Court approval, the DIP financing is expected to improve the Company's financial position immediately and support its operations during the financial restructuring process.  According to court documents, Bank of America served as administrative agent to the financing, and BofA and Wells Fargo were co-collateral agents. 

The new financing brings the retailers total financing to $650 million as the holiday shopping season begins, CXNBC reports.