In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

In a filing with the U.S. Securities and Exchange Commission on Wednesday and reported by Reuters, Sears said ESL made a deal on Jan. 26 with a financial institution to acquire 80% interest in an agreement designed to ensure payment to vendors in the event of a bankruptcy filing by a company.

Sears Holdings Corp. has named a former technology executive as its new chief executive. The struggling retailer’s three-year search for a permanent CEO came to an end with the announcement on Wednesday that it has appointed Lou D’Ambrosio as chief executive and president. He will assume the office and join Sears’ board on Feb. 24.