Headlines

Sears Looks to Sell Roughly 500 Stores

The retailer is weighing options in order to save the company

Published

5 years ago

November 30, 2018

Sears (Hoffman Estates, Ill.) has filed a court document that identifies about 500 stores that it hopes to sell as a part of a plan to save the company.

The stores will include both Sears and Kmart branded stores, including ones the company owns and leases. According to Fortune, while the company is looking to sell these stores, that does not necessarily mean that they will be closed. Instead, those stores could remain open under the new ownership. The plan also calls for renegotiating rents at its most profitable stores.

The company, which filed for bankruptcy protection this past October, carries about $10 billion in debt that it is searching to pay down. In a move to stay open through the holiday shopping season, the company already secured $600 million in loans.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design