Pursuits
Sears to Explore Options for Kenmore, Craftsman, DieHard
- CFO Schriesheim plans to leave money-losing retailer
- First-quarter loss widens to $471 million, Sears says
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Sears Holdings Corp. is considering options for its Kenmore, Craftsman and DieHard brands, as well as its Sears Home Services repair business, signaling that the retailer may sell more assets to stem widening losses.
The company will “aggressively” evaluate all alternatives for the businesses and has hired Citigroup Inc. and LionTree Advisors to assist in the efforts, according to a statement Thursday. Sears also reported that its first-quarter net loss expanded to $471 million, or $4.41 a share, and said Chief Financial Officer Robert Schriesheim plans to leave the company.