Dec 2 Struggling retailer Sears Holdings Corp
said Chief Executive Eddie Lampert proposed to buy a
bigger stake in Sears Hometown and Outlet Stores Inc,
if Sears Hometown entered into a partnership related to certain
brands and its home services unit.
Sears Holdings has been exploring alternatives - including
partnerships for its Kenmore, Craftsman and Diehard brands, and
its Sears Home Services unit since May - as it looks to
reinvigorate its ailing business.
In a filing with regulators, Sears said Lampert met with
representatives of Sears Hometown on Thursday to seek their
participation in the process.
Once the biggest U.S. retailer, the company has struggled to
compete against Amazon.com Inc as well as big
brick-and-mortar chains such as Wal-Mart Stores Inc,
which offer much lower prices.
Sears Holdings has lost more than $8 billion over the last
five years and posted a quarterly profit just once in the last
As of Dec. 2 Lampert is the biggest shareholder with a 57.3
percent stake in Sears Hometown, which was spun off from Sears
Holdings in 2012.
(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by