Industry News — New Sears to acquire Hometown

By June 13, 2019 Featured

“The holding company that owns the remaining Sears and Kmart stores has agreed to acquire Sears Hometown and Outlet Stores for $2.25 a share. Transform Holdco said in a press release that rejoining Hometown would “accelerate Transform’s strategy of growing its smaller store format.” With 491 Hometown stores and 126 Outlet stores, Sears Hometown would make the new Sears the third-largest U.S. appliance retailer, according to Transform, which is controlled by former Sears Holdings CEO Eddie Lampert. Under the merger agreement, Sears Hometown can try to sell itself to third parties for at least $97.5 million.”

Maybe there is a turn-around in store for Sears? Let’s hope so. We want to see the industry soar again.

Read more from Retail Dive’s article here >>

Tracey Wells-Schneps

Author Tracey Wells-Schneps

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