Sears Looks to Sell Roughly 500 Stores

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.