27 Facts About Sears Holdings

Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois.

The merger of Kmart and Sears Holdings closed on March 24,2005, following affirmative shareholder votes of both companies.

Sears Holdings continues to market products under brands held by both companies.

Sears Holdings continued to operate stores under the Sears and Kmart mastheads.

Sears Holdings has begun cross-selling merchandise between its two brands.

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Sears Holdings owned 51 percent of Sears Canada, a large department store chain in Canada similar to the US stores.

Sears Holdings accepted to sell his stake at $30 a share on April 23,2010.

Sears Holdings owns 20 percent of Sears Mexico; Carlos Slim owns the other 80 percent.

In 2005, Sears Holdings sold a stake in hardware chain Orchard Supply Hardware to private equity firm Ares Management.

On December 14,2011, Sears Holdings announced that it would spin off its remaining holdings in Orchard Supply to shareholders effective December 30,2011.

In November 2006, speculation rolled around as The Chicago Sun Times reported that Sears Holdings may buy Safeway, Home Depot, Gap, BJ's Wholesale Club, Radio Shack, Pep Boys, and Anheuser-Busch.

Sears Holdings has faced consistent quarters of decline since the merger of Sears, Roebuck and Co.

In 2015, Sears Holdings planned to spinoff 235 of its properties into a new REIT to be called Seritage Growth Properties, with the package of properties backed by a $925 million loan from JP Morgan Chase Bank.

In May 2016, Sears Holdings announced that it was seeking strategic alternatives for its house brands to increase their revenue, including expanding their presence outside of Sears and Kmart.

On January 4,2018, Sears Holdings announced it would shutter 103 unprofitable Kmart and Sears stores, after 24 quarters of sales declines.

On March 15,2018, Sears Holdings announced a small profit was made in quarter 4 of 2017.

On September 28,2018, Sears Holdings began selling at less than a dollar per share, risking delisting by NASDAQ.

On October 10,2018, it was reported that Sears Holdings had engaged advisors regarding an imminent bankruptcy filing.

All other Kmart and Sears Holdings stores are staying open to turn the company around.

Sears Holdings announced that CFO Robert A Riecker, CDO Leena Munjal, and apparel and footwear segment president Greg Ladley would collectively share the responsibilities of CEO in his place.

On November 8,2018, Sears Holdings announced it would close an additional 40 Kmart and Sears stores.

On November 23,2018, Sears Holdings released a list of 505 stores, including 239 Kmart stores and 266 Sears stores, that are for sale in the bankruptcy process while all others are currently holding liquidation sales.

Sears Holdings announced that it would close an additional 80 Kmart and Sears stores, as it faces possible liquidation.

Sears Holdings announced on January 16,2019, that Lampert had won the bankruptcy auction, allowing the company to remain open.

On January 24,2019, a group of unsecured creditors, that included Simon Property Group, filed a motion with the bankruptcy court to overturn the deal Sears Holdings had just made with Lampert claiming that Lampert had been "engaged in serial asset stripping" of the company at the expense of suppliers and landlords.

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On January 28,2019, the federal government operated Pension Benefit Guaranty Corporation announced that they were not in favor with the current Sears Holdings Holding agreement with Lampert since that agreement would create a $1.

On June 28,2019, it was reported that Sears Holdings had plans to fully dissolve after selling its retail assets to ESL Investments a few months prior.