Sears Holdings (SHLD) Takes Additional Action to Increase Financial Flexibility; to Close Additional 150 Stores
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Sears Holdings Announces Steps To Enhance Liquidity, Stabilize Operating Performance
January 5, 2017 9:20 AM ESTHOFFMAN ESTATES, Ill., Jan. 5, 2017 /PRNewswire/ -- Sears Holdings Corporation (NASDAQ: SHLD) today announced a series of additional strategic actions to increase its financial flexibility and improve long-term operating performance. These actions will facilitate the transformation of Sears from a store-based, asset-intensive business model into a membership-focused, asset-light business model. As such, the Board of Directors has determined to:
Close an additional 150 non-profitable stores, comprised of 109 Kmart and 41 Sears stores, to stem losses; Enter into an agreement to sell the Craftsman business for a cumulative $775... More
