Edward Lampert

Sears Evaluating Kenmore, Home Services Assets Sale

Sears Holdings has formed a special board of directors committee to initiate a formal process to explore the sale of its Kenmore brand and related assets, as well as the Sears Home Improvement Products and Parts Direct business of its Sears Home Services division.

Lampert’s Hedge Fund Eyeing Sears Assets

Sears Holdings Corp. and its board of directors have received a letter from ESL Investments expressing the view that the company should pursue a divestiture of all or a portion of its Kenmore brand and related assets, the Sears Home Improvement business of the Sears Home Services division (SHIP) and the PartsDirect business of the Sears Home Services division.

Sears Closing Another 43 Stores

As Sears Holdings continues its “transformation,” the retailer will close another 43 locations as the company “continues to focus on our best stores and return to profitability,” said Eddie Lampert, chairman and CEO of the retailer.

Sears Names Hollar CFO

Sears Holdings has named Jason Hollar as the company’s chief financial officer, effective immediately. He fills the position vacated by Robert Schriesheim, who in May announced his departure from the company.

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Sears Slides In Q2

The losses continue to mount for Sears Holdings in the second quarter. The retailer also received additional financing through a loan from the investment firm controlled by its chairman.